Binance Bitcoin reserves have climbed to approximately 667,500 BTC, the highest level since February, according to CryptoQuant data. The increase of roughly 51,500 BTC from April’s 616,000 BTC level occurred as Bitcoin traded near $64,000. While higher exchange reserves can indicate more supply for trading, analysts note that custody changes and internal transfers—not necessarily investor selling—may also drive the growth. Separately, a Binance-linked wallet received 6,494 BTC from 45 deposits between July 19 and August 8, valued at about $423 million. The funds were then sent out in 25 transactions, with 23 going to a single address recognized by Binance’s Proof of Reserves and court documents as belonging to the exchange.
Binance Bitcoin reserves reached a six-month high of about 667,500 BTC, according to CryptoQuant. The metric tracks BTC held in addresses identified as Binance-controlled and does not show how much appeared in active sell orders.
The growth in centralized exchange reserves means more supply for trading. However, higher Binance Bitcoin reserves do not prove that investors plan to sell, as liquidity transfers, custody changes, and internal exchange operations can also increase the balance.
On Tuesday, Bitcoin fell under $64,000, down 0.78% over the past day. Market participants awaited the next U.S. CPI report.
Separate data from Lookonchain shows a Binance-linked wallet received 6,494.34685667 BTC from 45 deposits between July 19 and August 8. At that time, the balance was estimated at approximately $423 million.
The funds then left the account in 25 outgoing transactions. In 23 cases, the money was transferred to one particular address, which was recognized by Binance’s Proof of Reserves report of 2022 and by U.S. court documents as belonging to Binance.
No sources prove the continued control over this address by the exchange. The transaction history shows no indication of any preparations for selling the assets.
