• Bitcoin balances on Binance hit highest since November 2024: here’s what it means Users’ bitcoin holdings in wallets linked to Binance have climbed to highest since late 2024. • What to know: Bitcoin holdings in wallets linked to Binance have climbed to about 676,835 BTC, a level last seen in November 2024 and up 9.3% from a recent low. • Rising balances on the exchange are said to have bearish implications. • A major crypto whale transferred about $760 million in bitcoin to Binance on Sunday, according to Arkham. • The number of bitcoinBTC$66,482.87held in wallets tied to the cryptocurrency exchange Binance continues to rise, according to data from CryptoQuant. • The tally rose to 676,834.84 BTC ($44.53 billion) on Sunday, a level last seen in November 2024.
Article Summaries:
- Bitcoin holdings in wallets linked to Binance have risen to 676,835 BTC-its highest level since November 2024-up 9.3 % from a recent multi‑month low. The increase is largely attributed to a large transfer by a crypto whale, reportedly moving about $760 million in BTC to Binance, according to Arkham. Rising balances on the exchange are often seen as a bearish signal, suggesting investors may be preparing to sell or use the coins as margin in derivatives, which can heighten price volatility. Bitcoin’s price dipped from $67,600 to $64,400 during early Asian hours but has since rebounded to around $65,850.
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