Binance's Bitcoin reserves have risen to 693,000 coins, accounting for about 30% of the reserves of major trading platforms

The cryptocurrency exchange platform Binance's Bitcoin reserves have exceeded 693,000 coins, an increase of about 77,000 coins since late April, accounting for approximately 30% of the total Bitcoin reserves of major exchanges.

Bitcoin is currently positioned below the long-term holder supply zone between $83,000 and $85,000, with new accumulation support forming around $75,000. If this support is lost, the next level of concern will be $75,000. Binance had previously announced plans to invest $1 billion to allocate approximately 15,000 Bitcoins, and factors related to the SAFU fund and the Coldcard incident may also influence some holders' custody choices.