Bitcoin is back to trading in the green territory, showing a substantial price gain over the last day following a major resurgence in the broader crypto market.
With momentum building again, Bitcoin has now rebounded back above $81,000, but its rising reserves on Binance are raising questions about whether the recovery is backed by enough spot demand.
Bitcoin reserves on Binance hit 702,900 BTC
Latest onchain data from crypto analytics platform CryptoQuant shows that Bitcoin reserves on the world’s largest crypto exchange, Binance, have surged to 702,900 BTC as of September 19.
Notably, the latest reading in Binance’s Bitcoin reserves marks the highest level reached in 2026, painting a bearish picture despite the major price recovery.
It is important to note that the increase in the metric indicates that more Bitcoin is currently held on the exchange and could potentially become available for sale.
Although higher exchange reserves alone do not confirm that investors are preparing to sell, they do not often paint a bullish outlook for the asset.
Whale activity on Binance remains stable
The data further showed that the increase in Bitcoin reserves on Binance has come as the exchange continued to record rising daily net inflows since late August.
While this implies that additional supply has continued to move to the exchange, the data shows that the rising Bitcoin supply on the exchange is not associated with any unusually large whale-driven sell-off.
Regardless, analysts believe that buyers will need to absorb the additional supply entering the market through Binance to ensure a sustainable price rally.
Be the first to comment