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Investing.com — Bitcoin traded above $77,000 on Saturday, struggling to regain momentum as a sharp buildup of coins on Binance raised concerns over potential selling pressure, even as surveys pointed to growing interest in crypto among wealth managers and institutional investors.
Bitcoin was quoted at $77,346.0 and was up 0.45% as of 05:59 ET (09:59 GMT), giving the world’s largest cryptocurrency a market capitalization of roughly $1.55 trillion. Attention has turned to Binance, where bitcoin reserves have risen above 693,000 BTC, their highest level in two years.
The exchange’s reserves have increased by roughly 77,000 BTC since late April and now account for about 30% of bitcoin held across major trading platforms, according to on-chain analyst Darkfost.
Higher exchange balances can increase the amount of bitcoin readily available for sale, though the rise does not necessarily mean holders intend to sell. Binance’s $1 billion SAFU fund purchase plan and demand for third-party custody may account for part of the increase.
The supply picture comes as bitcoin remains below a concentration of long-term holder supply around $83,000 to $85,000 The combination of elevated exchange reserves and supply from existing holders has kept pressure on bitcoin after its recent gains
Signs of longer-term institutional demand offered a more positive counterpoint.
A poll conducted during a Bitwise presentation to 400 wealth managers found that 60% planned to allocate to crypto within the next year. The same proportion expected crypto prices to rise by year-end, despite 67% of those polled currently having no crypto allocation.
Separate Bitwise and VettaFi research found that 32% of financial advisers allocated to crypto in client accounts during 2025, up from 22% a year earlier. Access is also broadening, with 42% of advisers able to purchase crypto for clients, compared with 35% previously.
Institutional appetite has shown similar momentum. A Coinbase and EY-Parthenon survey of 351 institutional investors found 73% planned to increase crypto allocations in 2026, with regulated products remaining the preferred route for many investors.
Elsewhere in crypto markets, former Ripple chief technology officer David Schwartz said XRP could eventually overtake bitcoin by market capitalization if XRP grows faster as part of a broader expansion in digital assets.
At current valuations, such a shift remains distant. XRP’s market capitalization stands around $85 billion against bitcoin’s $1.55 trillion. Based on XRP’s circulating supply of 62.88 billion tokens, it would need to trade near $24.70 to match bitcoin’s current valuation, compared with about $1.34 now.
Source: finance.yahoo.com