Binance bitcoin reserves hit highest level since November 2024 as whale transfer stirs market

Bitcoin traders are watching Binance closely after a sharp rise in exchange reserves linked to the primary trading venue.

Binance wallets record biggest bitcoin balance since late 2024

The amount of bitcoin held in wallets associated with Binance has reached the highest level since late 2024, raising fresh questions about potential selling pressure. Data from CryptoQuant show that on Sunday the tally climbed to 676,834.84 BTC, valued at $44.53 billion.

That figure, last seen in November 2024, represents a 9.3% increase from the multi-month low of 618,782 BTC recorded in November. Moreover, the trend underscores how exchange reserves have rebuilt after months of net outflows during the previous phase of the market cycle.

According to analysts, a sustained rise in bitcoin exchange balances often signals that investors are moving coins from self-custody to trading platforms in preparation to sell or deploy them in leveraged strategies. However, a higher pool of available liquidity on a major venue can also amplify volatility in both directions when large orders hit the order book.

Why rising balances on Binance can be a bearish signal

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.

That said, 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.

CoinDesk contacted Binance for comment on the growing stockpile of BTC in linked wallets, but the exchange did not immediately respond. The missing response leaves open questions about whether internal factors or large clients are driving the trend in reserves.

Whale moves $760 million in bitcoin to Binance

A single large holder appears to have contributed significantly to the weekend surge in reserves. Blockchain intelligence firm Arkham reported on Sunday that a prominent crypto whale transfer pushed a substantial amount of BTC onto Binance-linked addresses.

Arkham said the entity, possibly Garret Jin, operates on Hyperunit, which is part of Hyperliquid’s cross-chain asset tokenization and bridging infrastructure. According to the firm, the whale moved roughly $760 million in bitcoin to Binance, adding to on-chain evidence that big players are repositioning.

Moreover, the large BTC inflow came about six days after the same address shifted roughly half a billion dollars worth of ether (ETH) to Binance. This sequence of transfers suggests the entity has been consolidating liquidity on the exchange, potentially for strategic trading or portfolio rebalancing.

Market reaction and price moves

It remains unclear whether the whale has already liquidated some or all of the newly deposited coins. However, the timing coincided with a notable price move: bitcoin slid from $67,600 to $64,400 during Asian trading hours early Monday, hinting at possible selling or aggressive hedging activity.

Since that drop, the market has stabilized somewhat. By late Monday, BTC had recovered to trade around $65,850. That said, traders are now closely monitoring exchange btc reserves on Binance and other platforms for signs of further inflows that could precede renewed volatility.

The broader context matters as well. While higher balances on a major exchange can carry bearish connotations, they also reflect deep liquidity conditions that traders may use for both risk-off and risk-on strategies. As on-chain data continue to track flows, the binance bitcoin balance has become a key gauge for short-term sentiment.

In summary, the jump in Binance-held BTC to 676,834.84 coins, combined with a $760 million whale deposit and recent price swings between $67,600 and $64,400, underscores how large flows and rising reserves can quickly reshape near-term bitcoin market dynamics in 2026.