Bitcoin balances on Binance have climbed to nearly 676,900 BTC, the highest level since November 2024.
A single 11,000 BTC whale transfer worth about $760 million played a major role in the surge.
Rising exchange reserves may increase short-term volatility in the crypto market.
Bitcoin balances held on Binance have climbed to their highest level since November 2024. Fresh on-chain data shows that wallets linked to the exchange now hold between 676,800 BTC and 676,900 BTC. At current market prices, this equals approximately $44 billion to $45 billion worth of Bitcoin sitting on the platform.
This sharp rise has drawn attention across the crypto market. When large amounts of Bitcoin move onto exchanges, traders often see it as a signal that selling activity could increase. The recent jump has therefore raised questions about what may happen next.
A key reason behind the surge is a series of major transfers into Binance-linked wallets. Blockchain data tracked by CryptoQuant highlighted a noticeable inflow over the past week. One transaction stood out in particular.
On February 22, 2026, blockchain analytics firm Arkham Intelligence reported that a whale moved around 11,000 BTC, valued at about $760 million, to Binance. A single transfer of that size can have a great impact on overall exchange reserves.
Such whale movements do not always mean immediate selling. Sometimes, large holders move coins for custody changes, trading preparation, or to use Bitcoin as collateral for derivatives positions. However, history shows that when heavy deposits appear on exchanges, short-term volatility often increases.
The current balance marks the highest level recorded on Binance since November 2024. During that earlier period, Bitcoin reserves on the exchange were also elevated due to strong trading demand and market uncertainty.
Balances have fallen since then as many investors withdrew coins into cold storage. The recent rise, therefore, represents a clear shift in short-term behavior. Coins that were previously stored offline have returned to a trading venue.
While total exchange balances across the crypto industry have not exploded in the same way, Binance’s share has grown. This suggests that liquidity may be concentrating on one dominant platform rather than being spread evenly across multiple exchanges.
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Institutional flows may also be influencing the numbers. In recent months, market conditions have encouraged professional traders and funds to adjust positions quickly. When institutions rebalance portfolios or manage ETF-related flows, coins often move onto major exchanges to ensure smooth execution.
Proof-of-reserves reports from exchanges provide periodic snapshots of holdings. However, real-time blockchain tracking can show faster changes. The difference between these two views sometimes creates confusion about the amount of Bitcoin that is truly available for trading at any given moment.
The present spike reflects active market positioning rather than a quiet holding phase. Higher exchange balances usually mean more liquidity is ready to enter the order book if prices move sharply.
When Bitcoin moves from private wallets to exchange addresses, potential selling pressure increases. Traders often monitor this metric as an early warning signal. A rapid jump in reserves can lead to price swings if holders decide to offload coins.
However, deposits do not guarantee a market drop. Some coins stay untouched for weeks after reaching exchanges. Others serve as a margin for futures trading rather than direct spot sales.
Similar spikes have led to both sharp pullbacks and neutral outcomes during the previous cycles. The key factor is whether inflows continue and whether they turn into visible sell orders.
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Nearly 676,900 BTC, worth about $44 billion - $45 billion, are now in Binance-linked wallets. This is a large amount of Bitcoin that could enter the market at any time.
If more big holders move coins like the recent 11,000 BTC transfer, price swings could become stronger in the short term. However, if deposits slow down and trading stays calm, this rise may only be a shift in strategy, not a sign of heavy selling.
Currently, one thing is clear: Bitcoin balances on Binance are at their highest level since November 2024. This shows an important change in the market. The coming weeks and new on-chain data will reveal whether this leads to more selling or is just a temporary move.
Why are Bitcoin balances on Binance rising?
Large whale transfers, institutional repositioning, and shifting liquidity between exchanges have pushed reserves higher.
How much Bitcoin is currently held on Binance?
On-chain data shows between 676,800 and 676,900 BTC, valued at roughly $44–45 billion.
Does a higher exchange balance mean a price drop is coming?
Not always, but increased reserves can raise the risk of selling pressure and short-term volatility.
What was the biggest recent transfer?
Around 11,000 BTC, worth approximately $760 million, was moved to Binance in a single whale transaction.
Why do traders monitor exchange reserves?
Exchange balances help signal potential market moves because coins on exchanges are easier to sell or trade quickly.
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