Binance's Bitcoin reserves rise to 693,000 BTC, accounting for approximately 30% of major trading platform reserves

Odaily reports that Binance's Bitcoin reserves have surpassed 693,000 BTC, an increase of approximately 77,000 BTC since late April, accounting for roughly 30% of the total Bitcoin reserves held by major trading platforms.

Bitcoin is currently trading below the 83,000 to 85,000 USD dense supply zone of long-term holders, with new accumulation support forming near 75,000 USD. If this support level is breached, the next level to watch is 75,000 USD.

Binance previously announced plans to allocate 1 billion USD to acquire approximately 15,000 BTC, while the SAFU fund and security factors related to the Coldcard incident may also affect some holders' custody choices. (Bitcoin.com News)