TechFlow News, February 23: According to a CoinDesk report, on-chain analytics platform CryptoQuant data shows that the Bitcoin balance in Binance’s exchange wallet rose to 676,834.84 BTC (approximately $44.53 billion) last Sunday—the highest level since November 2024—and up approximately 9.3% from the multi-month low of 618,782 BTC recorded in November last year.
Rising Bitcoin balances in exchange wallets are typically viewed as a potential signal of selling pressure, suggesting investors may be preparing to sell their assets or use them as margin for derivatives trading—both scenarios usually amplifying price volatility.
It remains unclear whether the related assets have been sold; however, markets saw a pullback during Monday’s Asian morning session, with Bitcoin falling from $67,600 to $64,400 before rebounding slightly to around $65,850.
