Binance Bitcoin Reserves Reach 693,000 BTC, Accounting for 30% of Major Exchange Holdings

Binance's Bitcoin reserves have surpassed 693,000 BTC, marking an increase of approximately 77,000 BTC since late April and representing about 30% of the total reserves held by major exchanges. Bitcoin is currently trading below the long-term holder supply concentration zone of $83,000 to $85,000, with new accumulation support forming near $75,000. Market analysts note that a breach of this support could shift focus to the $75,000 level. Factors such as Binance's previous commitment to allocate 15,000 BTC to its SAFU fund and security considerations related to Coldcard incidents may influence user custody preferences.