Binance 44th Proof of Reserves: Users Add 7,715 Bitcoin (BTC)

Quick Take:

• Binance proof of reserves report disclosed that users on the exchange added 7,715 BTC between June 1, 2026, and July 1, 2026.
• The U.S. spot Bitcoin Exchange-Traded Funds (ETFs) recorded a massive $424.66 million net outflow on July 13, 2026, indicating fading institutional interest.
• The daily chart suggests BTC’s potential rally could only be possible if its price clears the upper boundary of the $64,550 level.

Amid the ongoing market volatility, a report from Binance hints that the current market could be an ideal buying opportunity for Bitcoin (BTC). Recently, WuBlockchain shared Binance’s 44th proof-of-reserves report, which disclosed that BTC Binance users on the exchange were accumulating a massive amount of bitcoin amid a market dip.

Binance Proof of Reserves

According to Binance’s July 1, 2026, snapshot, user BTC holdings rose 1.22% from June 1, 2026, to about 640,000 BTC, an increase of 7,715 BTC. Meanwhile, users’ Ethereum (ETH) holdings fell 1.41% to about 4.08 million ETH, a decrease of 58,591 ETH.

Besides BTC and ETH, users' USDT holdings also fell 1.51% to about 33.70 billion USDT, a decrease of roughly 510 million USDT.

Now, if we look at the price movement during this period from June 1 to July 1, 2026. During that same period, BTC amid this declined over 21%, while ETH printed a loss of over 23%. This shows that Binance users took advantage of this decline as an opportunity and followed the buy-the-dip strategy for BTC.

Wall Street Caution and Government BTC Activity

However, Wall Street investors remain cautious and seem to have a bearish outlook on Bitcoin, as recorded by analytics platform SoSoValue. The data shows that the U.S. spot Bitcoin Exchange-Traded Funds (ETFs) recorded a massive outflow of $424.66 million on July 13, 2026.

At the same time, the U.S. government moved $8.8 million of BTC to Coinbase Prime, as shared by a crypto wallet tracker, Arkham. The post on X also added that the Coinbase Prime deposit that received this BTC 1 hour ago also received seized BTC from the founders of Samourai Wallet in the past. This appears to be adding bearish pressure on the BTC price.

At press time, BTC was trading near the $63,800 level. Despite the falling price, the asset’s trading volume hovered around $26 billion during the same period, indicating heightened participation from traders and investors.

However, derivatives data from Coinglass tells a different story. Coinglass's BTC long/short ratio stands at 1.0076, above 1, indicating strong bullish sentiment among intraday traders. Meanwhile, the asset's Open Interest (OI) has surged 2.56%, suggesting that traders are opening more leveraged positions.

Whereas BTC OI-weighted funding rate also turns positive to 0.0055%, indicating bulls are paying shorts to maintain their position, indicating traders' growing confidence in the upward rally.

Looking at the mixed market sentiment, you might be wondering what's next for the BTC price in the coming days.

Bitcoin Price Action and Key Levels to Watch

As per the daily chart on TradingView, BTC’s short-term bias remains sideways. The chart shows that the asset has been hovering in a consolidation zone between the upper and lower boundaries of 64,550 and $61,960 for the past 10 trading days.

Based on the current price action, if the BTC price clears the upper boundary at the $64,550 level, it could open the door for further rally and may see a price jump of over 4% and reach the $67,250 level. However, a potential price reversal could also be possible if the price fails to break the upper boundary.

At press time, BTC’s technical indicator Average Directional Index (ADX), which measures trend strength, reaches 24.55, below the key threshold of 25, indicating a weak trend in the asset.

However, BTC’s broader trend remains bearish as the asset continues to trade below the 200-day Exponential Moving Average (EMA), indicating that sellers remain in control and the long-term trend is still negative.