Data from on-chain analytics platform CryptoQuant shows that the Bitcoin balance linked to Binance exchange wallets rose to 676,834.84 BTC (approximately $44.53 billion) on Sunday, the highest level since November 2024, representing a roughly 9.3% increase from the multi-month low of 618,782 BTC in November last year. It is unclear whether the asset has been sold off, but the market initially retreated in early Asian trading on Monday, with Bitcoin falling from $67,600 to $64,400 before rebounding slightly to around $65,850. Analysts point out that a rise in Bitcoin balances on exchanges is often seen as a potential signal of selling pressure, meaning investors may be preparing to sell the asset or use it as margin for derivatives trading, both of which typically exacerbate price volatility. (CoinDesk)