Bitcoin's Volatility Continues: Record Highs and Rumors of Sell-Offs
The total amount of bitcoin held in Binance's wallets has increased by over 52,000 BTC ($1.5 billion) in four weeks, taking the tally to 692,880 BTC, according to data tracked by blockchain analytics firm Glassnode. The uptick in the balance held on Binance might signify renewed investor confidence in centralized exchanges' ability to keep their funds safe. However, some analysts suggest that the rise in BTC held on Binance might be bad news for the market, as large amounts of bitcoin being moved onto exchanges generally means that those are ready to be sold.