Bitcoin Stalls Above $77,000 as Exchange Reserves Rise

Bitcoin's momentum is faltering above $77,000 as rising exchange reserves weigh on sentiment.

The world's largest cryptocurrency has been struggling to regain traction despite reaching a new milestone. Data from Binance shows that its bitcoin reserves have exceeded 693,000 BTC for the first time in two years.

This sharp buildup of coins is raising concerns about potential selling pressure. However, some analysts argue that the increase may be due to the exchange's $1 billion SAFU fund purchase plan and growing demand for third-party custody.

While elevated exchange reserves are a cause for concern, institutional appetite for crypto continues to grow. A recent poll of 400 wealth managers found that 60% plan to allocate to crypto within the next year, with 73% of institutional investors planning to increase their allocations in 2026.