Binance Bitcoin reserves hit six-month high ahead of U.S. CPI data

Bitcoin's market structure remained mixed ahead of the U.S. July Consumer Price Index report due Aug. 12 at 8:30 a.m. ET. Binance's reported Bitcoin reserves rose to roughly 666,000-667,500 BTC on Aug. 11, up from about 616,000 BTC in April and the highest level since at least early June, with one report citing the highest since February. Other exchanges moved differently, with Kraken up to around 151,000 BTC from roughly 142,000 BTC since early June, Bitfinex near 421,400 BTC and OKX down to about 103,000 BTC from 105,000 BTC. Large holders continued accumulating supply, while spot Bitcoin ETFs posted their strongest weekly inflows since April before turning to a net outflow on Monday, and Glassnode said weak network activity and subdued profitability still pointed to a transitional recovery rather than a broad expansion.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.