Bitcoin has climbed by over 10% in the past week. Amidst improving sentiment, one exchange, in particular, is seeing an increase in its share of BTC reserves.

Binance has reaffirmed its place as the dominant force in Bitcoin custody.

Binance’s Growing Dominance

According to the latest stats shared by CryptoQuant, Binance currently holds 23% of all BTC reserves across centralized exchanges. Since the 2020 market crash induced by the COVID-19 pandemic, the crypto giant has steadily increased the BTC held on its platform. During the same time, its competitors have seen declining holdings.

Despite ongoing BTC outflows from other exchanges, Binance’s reserves remain significantly high, which highlights both user trust and liquidity concentration.

CryptoQuant analyst, however, cautioned that this growing dominance raises important questions about centralization and Binance’s influence on market flows.

“This growing dominance may signal: Increased user trust in Binance, liquidity centralization, potential influence over market flows. Tracking this metric helps us understand where the capital is flowing and who’s really in control of the game.”

Whales Step In as Retail Steps Out

Zooming out, there is also an influx of whale activity and institutional buying that’s fueling the current market rebound. Over the past month, Binance’s taker buy/sell ratio rose by nearly 19%, with a 7-day gain of 6.2%, which depicts confident buyers willing to pay market prices to establish positions.

Such behavior reflects strong conviction and is commonly associated with institutional or strategic traders. Bitcoin’s price recently reached a monthly high of $94,500 amid improving macroeconomic conditions.

Binance, as the world’s largest crypto exchange, appears to be leading the charge, as evidenced by its taker activity. With a net taker volume nearing $62 million, the platform has recorded its highest levels in weeks, which means that buyer-led momentum is in control.

As retail interest remains subdued, analysts view these aggressive orders as a key market signal, suggesting a potential bullish continuation in the coming weeks.

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