Binance Bitcoin Reserves Surge to Six-Month High Amid Whale Transfer

Binance, one of the largest cryptocurrency exchanges, has seen its bitcoin reserves rise to their highest level since November 2024. According to data from CryptoQuant, the total amount of BTC held in Binance wallets reached 676,834.84 coins on Sunday, valued at $44.53 billion.

This represents a 9.3% increase from the multi-month low of 618,782 BTC recorded in November and underscores how exchange reserves have rebuilt after months of net outflows during the previous phase of the market cycle.

The rise in Binance-held BTC has sparked concerns about potential selling pressure or hedging flows in the market. Historically, growing reserves on a large exchange like Binance have been viewed as a potential headwind for price. When traders transfer coins onto exchanges, they can more easily respond to short-term moves, whether through spot selling or by posting collateral for crypto derivatives margin on futures and options.

However, rising balances do not guarantee an immediate sell-off. They instead indicate that market participants are keeping more coins within reach for active strategies. Moreover, this positioning can feed into hedging flows in the bitcoin price impact channel, where derivatives trades influence spot levels during periods of thin liquidity.