Binance Tightens Its Grip on Bitcoin as Whales Lead the Charge

While many crypto exchanges are seeing Bitcoin reserves shrink, Binance is quietly bucking the trend and it’s doing it in a big way.

Over the past week, Bitcoin surged more than 10%, boosting market sentiment across the board. And as optimism grows, Binance has strengthened its position as the top destination for BTC custody.

According to new data from CryptoQuant, Binance now holds 23% of all Bitcoin reserves among centralized exchanges, a commanding share that’s only been growing since the COVID-driven market crash in 2020. While other platforms have watched their BTC holdings fall, Binance’s reserves have remained strong, signaling deep liquidity and user trust.

However, not everyone sees this as purely good news. CryptoQuant analysts warn that Binance’s rising dominance could create risks, including concerns about liquidity centralization and outsized influence over Bitcoin market flows.

“This growing dominance may reflect increased user trust  but it also shows liquidity is becoming concentrated. Tracking where the capital is going tells us who’s really steering the market,” a CryptoQuant researcher noted.

At the same time, bigger players seem to be stepping in. Binance’s taker buy/sell ratio has jumped nearly 19% over the past month, including a 6.2% gain just in the last week. This shift suggests that whales and institutions  not retail investors  are leading the latest buying wave, aggressively taking market orders to establish positions.

The platform’s net taker volume has also soared to nearly $62 million, its highest level in weeks. As Bitcoin recently tapped a fresh monthly high around $94,500, buyer momentum looks firmly in control.

While smaller investors have been relatively cautious, whale activity on Binance is seen as a major bullish signal  hinting that the next leg higher for Bitcoin might just be getting started.