Binance BTC reserves rise to 693,000, hitting a two-year high, Bitcoin faces $85,000 resistance level.

BlockBeats news, September 12: Binance's Bitcoin reserves have risen to 693,000 BTC, a two-year high, an increase of about 77,000 BTC since the end of April, accounting for about 30% of Bitcoin reserves on major trading platforms.

Amid the rapid increase in reserves, Bitcoin is facing strong supply pressure near $83,000 to $85,000. A rise in BTC balances on trading platforms means more Bitcoin is readily available for trading or sale in the market, but it does not mean these holdings will be immediately sold off.

The market is also watching downside support. If BTC cannot hold $75,000, the risk of selling pressure may rise further; if it can break above $85,000 with volume, it would mean market demand has the capacity to absorb the newly added trading platform liquidity.