Bitcoin Holds Above $77,000 as Rising Binance Reserves Signal Potential Headwinds

Bitcoin traded above $77,000 on Saturday, holding recent gains but struggling for upward momentum as a significant increase in BTC held on the Binance exchange raised investor concerns about potential selling pressure.

As of 05:59 ET (09:59 GMT), Bitcoin was priced at $77,346, giving it a market capitalization of approximately $1.55 trillion, according to data from Investing.com.

On-Chain Data Shows Rising Supply

Market attention is focused on a sharp rise in Bitcoin reserves on Binance, the world's largest crypto exchange. According to on-chain analyst Darkfost, the exchange's Bitcoin holdings have surpassed 693,000 BTC, the highest level in two years.

• Binance's reserves have grown by roughly 77,000 BTC since late April.
• The exchange now holds about 30% of all Bitcoin stored across major trading platforms.

An increase in exchange reserves can signal that more of the asset is available to be sold, potentially creating headwinds for the price. However, the inflows may not be entirely for selling purposes, as they could also be related to Binance's $1 billion SAFU fund or demand for third-party custody services. Compounding the supply pressure, data from Glassnode indicates a heavy concentration of long-term holder supply in the $83,000 to $85,000 range, which could act as a resistance level.

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Institutional Interest Provides Counterpoint

Despite the short-term supply concerns, multiple surveys point to a sustained and growing interest in digital assets from professional investors.

A poll conducted by Bitwise with 400 wealth managers found that 60% plan to allocate to crypto within the next year. Separately, a Coinbase and EY-Parthenon survey of 351 institutional investors revealed that 73% intend to increase their crypto allocations in 2026.

Further research from Bitwise and VettaFi showed that the percentage of financial advisers allocating to crypto in client accounts rose to 32% in 2025 from 22% the prior year, highlighting a clear trend of broader adoption within the financial advisory community.