Bitcoin (BTC) Reserves on Binance in Free Fall, Mimicking Pre-Bull Run Behavior

The time has come for an assessment in the crypto sphere, and Binance, the number one exchange, is under the spotlight.

Binance, the leading cryptocurrency exchange, has seen a significant decrease in its Bitcoin (BTC) reserves, reaching the lowest level since January. This observation has not escaped analysts, like Darkfost from CryptoQuant, who points out that these movements reflect increased investor confidence in the long-term potential of bitcoin, which is leaving the platforms to join cold wallets.

Bitcoin reserves on Binance have fallen below the threshold of 570,000 BTC, a level last seen in January. This decrease is occurring as bitcoin is being withdrawn from the platform at a record pace.

According to Darkfost, ” When withdrawals intensify, it is often a sign of positive momentum in the market. ”

Indeed, a similar scenario played out last January, just before a 90% bitcoin rally two months later.

These movements are also being signaled by the return of bitcoin to self-custody, as investors prefer to hold their crypto assets outside of exchanges for the long term.

Binance Bitcoin Reserves Hit Lowest Level Since January After a record-breaking bitcoin rally in November, the exchange saw its BTC reserves reach an all-time high of 623,000 BTC. However, these reserves have since been depleted as investors纷纷提现 their bitcoin.

This dynamic had already occurred in early 2024, before a resounding rally. It remains to be seen if history will repeat itself for the flagship crypto.