- The Bitcoin balance of Binance fell to 563,937.88 BTC after an outflow of 2,182.63 BTC intraday.Â
- Now, Coinbase Pro holds a greater Bitcoin balance than Binance and other exchanges.Â
- CoinGlass data states that the trading volume on Binance of BTC/USDT fell over 27%, reaching $16.04 Billion. Â
Market watchers have several reasons for the sudden decline in Bitcoin prices. However, the decrease in Binance’s Bitcoin balance is also termed as a primary reason behind the fall.Â
According to data from CoinGlass, Binance, a leading centralized exchange, has 563,937.88 Bitcoin in the balance after an outflow of 2,182.63 BTC in the past 24 hours.  Â
The recent outflow from Binance has suppressed it and has pushed it to the second position in terms of Bitcoin balance. Coinbase Pro has 824,902.44 Bitcoin as a balance, making it the exchange with the highest number of BTC.Â
At a time, the intraday outflow on Binance reached $2 Billion in Bitcoin; as per claims, the exchange allegedly seized Palestinian assets on the platform on behalf of a request from Israeli terrorists.
CoinGlass data states that the trading volume on Binance of BTC/USDT fell over 27%, reaching $16.04 Billion, and ETH/USDT volume fell 35.12%. In the past 24 hours, the recorded trading volume of futures on Binance was $48.11 Billion.Â
Bitcoin Price OverviewÂ
When writing, Bitcoin was trading at $60,234, with a decline of 19.32% in the intraday trading volume. In the past 30 days, its lowest price traded at $49,121.24 and recorded its highest trading price of $66,810.21.Â
From August 23 till August 26, BTC prices enjoyed an appreciation above the mark of $60k, but some unprecedented events dragged it below $60k. A sharp decline in its market capitalization was observed on August 28, 2024; the cap is $1.19 trillion as of writing.Â
The nearest visible resistance of BTC price are $69,070 and $72,986; however, its supports are $56,392 and $52,476. The current trading price of BTC is above 200 days EMA and below 20, 50, and 100 days EMA.Â
