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Binance BTC Reserves Soar Amid Bitcoin Price Downturn and ETF Outflows

Guavy AI Editorial Team
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BTC BNB
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Binance's Bitcoin reserves have reached a two-year high of 693,000 BTC, accounting for around 30% of major exchange reserves.

The increase in Binance's reserves coincides with net outflows from U.S. spot Bitcoin ETFs, totaling $283 million on September 10, marking the third consecutive day of withdrawals.

Bitcoin's price currently trades near $77,000, and a weekly close below its 50-week EMA could expose support around $72,000.

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