1 month ago
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Key Takeaways
- Binance reserves reached roughly 685,000 BTC.
- Higher reserves increase potential sell-side supply.
- STH-SOPR near 1.03 shows realized profits.
- Neither metric confirms coins were sold.
Bitcoin struggled to hold above $80,000, an area that already overlaps with a broader on-chain supply wall and the aggregate cost basis of US spot ETF holders. Two CryptoQuant readings add another layer to that resistance, although they measure different parts of the market.
Binance holds more BTC, but those coins are not all sell orders
Bitcoin held in wallets labeled as belonging to Binance rose from approximately 617,000 BTC in late April to about 685,000 BTC at the end of August, according to Read Entire Article
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