Binance Reserves Fall to 574k as Unrealized Profit Hits 60k
Binance reserves fell from 631,000 BTC in September 2024 to 574,000 BTC as strategic withdrawals and rising institutional demand reduce holdings. Meanwhile, unrealized profit on these reserves reached a record 60,000 BTC amid the recent Bitcoin price rally. Trading activity on Binance also surged: the exchange captured 52% of spot volume on July 18, and futures open interest rose across major platforms. On the altcoin front, BNB reached a new all-time high of $804, with its 50-, 100-, and 200-day moving averages all sloping upward. BNB volume spiked and the token entered price discovery with support at $780–790. These developments reflect strong market momentum and could signal further bullish trends for Binance reserves metrics, BNB, and the broader crypto market. Traders should monitor Binance reserves data and BNB technical indicators for potential entry points.
Bullish
The decline in Binance reserves alongside record unrealized profits indicates that long-term holders are either consolidating or withdrawing, reducing exchange supply and signaling strong bullish sentiment for Bitcoin. The surge in trading volumes and futures open interest further supports short-term momentum. For BNB, reaching an all-time high of $804 with bullish moving averages and increased volume suggests continued upside potential. In the long term, sustained reserve withdrawals and bullish technicals on both Bitcoin and BNB could drive further price gains, reinforcing market confidence and stability.