CryptoQuant: BTC reserves on Binance at 2024 highs ahead of FOMC
- —BTC reserves on Binance are about 690,000 BTC, 2% below the August 2024 peak
- —ETH reserves are 3.616 million, unchanged since June despite a 54% price gain
- —USDT on Binance is almost $38 billion, while USDC rose to $5.2 billion
- —Total stablecoin reserves exceed $43 billion ahead of the FOMC
Why it matters: Rising exchange reserves are not necessarily a bearish signal: in 2024, a similar level preceded a BTC rally above $120,000.
Source: PANews