Bitcoin traded above the $77,000 mark on Saturday but showed limited upside as market participants focused on a marked increase in bitcoin held on Binance. The flagship cryptocurrency was quoted at $77,346.0, up 0.45% as of 05:59 ET (09:59 GMT), giving it a market capitalization of about $1.55 trillion.
On-chain observers have zeroed in on Binance after the exchange's bitcoin reserves climbed above 693,000 BTC - the highest level recorded in two years. That represents an increase of roughly 77,000 BTC since late April and means Binance now holds approximately 30% of bitcoin stored across major trading platforms, according to on-chain analyst Darkfost.
Higher balances on exchanges can translate into more bitcoin immediately available for sale, a dynamic that can weigh on prices. The recent accumulation on Binance does not, however, necessarily imply imminent selling by holders. Analysts pointed to several explanations that could be contributing to the rise in balances, including Binance's $1 billion SAFU fund purchase plan and growing demand for third-party custody services.
Compounding the supply backdrop, bitcoin remains below a dense band of long-term holder supply concentrated around $83,000 to $85,000, according to Glassnode. That cluster of supply, together with elevated exchange reserves, has acted as a headwind to further gains following the recent rally.
Institutional and adviser interest provides counterbalance
While the exchange supply picture has introduced caution, multiple surveys included in the latest market coverage pointed to expanding interest in crypto from wealth managers, financial advisers and institutions.
During a Bitwise presentation to 400 wealth managers, a poll found that 60% planned to allocate to crypto within the next year. The same proportion of respondents expected crypto prices to be higher by year-end, even though 67% of those polled currently report having no crypto allocation.
Separate Bitwise and VettaFi research tracking financial advisers showed that 32% of advisers allocated to crypto in client accounts during 2025, up from 22% a year earlier. Access is broadening as well: 42% of advisers said they were able to purchase crypto for clients, compared with 35% previously.
Institutional appetite also showed momentum in a Coinbase and EY-Parthenon survey of 351 institutional investors, where 73% said they planned to increase crypto allocations in 2026. The survey indicated regulated products remain the preferred vehicle for many institutional investors.
XRP remarks and market-cap comparison
Former Ripple chief technology officer David Schwartz commented that XRP could eventually overtake bitcoin by market capitalization if XRP grows faster as part of a broader expansion in digital assets. The current valuations make such a shift distant at present: XRP's market capitalization is around $85 billion versus bitcoin's roughly $1.55 trillion.
Using the cited circulating supply for XRP of 62.88 billion tokens, XRP would need to trade near $24.70 to match bitcoin's present market valuation. By contrast, XRP was trading at about $1.34 at the time of the data reported.
Altcoins generally higher in subdued weekend trading
Across the broader market snapshot for the day, most major altcoins were higher amid light Saturday activity. Ether rose 2.46% to $2,530.82, while XRP gained 2.07% to $1.3698. Solana increased 2.59% to $102.01 and BNB edged 3.08% higher to $734.98. Cardano advanced 2.36% to $0.2086, and Dogecoin gained 1.51%.
Among smaller, meme-style tokens, TRUMP rose 10% and Shiba Inu gained 4.35% during the same snapshot.
Observers tracking market dynamics highlighted the tension between near-term supply pressures - notably rising exchange reserves and long-term holder sell concentrations - and signs of growing structural demand from advisers and institutions. That interplay is likely to remain a central factor for bitcoin price movements in the near term.