Binance added another 4.225 Bitcoin (BTC) worth $300 million to its User Protection Fund Secure Asset Fund for Users (SAFU) wallet on Monday. According to data from blockchain data platform Arkham, this purchase raised the fund’s BTC holdings to 10.455 BTC ($734 million) at current prices. Binance stated in an X post that it aims to convert the entire fund to BTC within 30 days of the original announcement. The shift of the $1 billion user protection fund announced on January 30 to BTC reflects the exchange’s confidence in BTC.
Binance SAFU Fund. Source: Arkham
Binance SAFU Fund Records Increase in BTC Holdings
According to the latest data, the SAFU fund reached a total of 10.455 BTC with an additional transfer of 4.225 BTC ($299.6 million). This move strengthens Binance’s risk management strategy while reinforcing institutional confidence from a BTC detailed analysis perspective. Additionally, investor Garrett Jin deposited 5,000 BTC ($351 million) into Binance; this signals confidence in the platform.
Smart Money Traders’ BTC Short Positions
While the correction continues in crypto markets, Bitcoin price fell to $59,930 on Friday. Investor sentiment remains fragile. According to Nansen data, the highest-yielding “smart money” traders have taken a cumulative net short position of $109 million in Bitcoin and are betting on price drops in most leading cryptocurrencies, except Avalanche (AVAX).
Smart money trader positions via Hyperliquid exchange, top tokens. Source: Nansen
Did Bitcoin Price Rise 15% in the Last 15 Hours?
In recent developments, Bitcoin rose approximately 15% in the last 15 hours, climbing above $68,000 from $60,000. However, the current price settled at $69,107 (-2.96% 24-hour change). RSI at 32.27 is in the oversold region; downtrend continues, Supertrend giving bearish signal.
BTC Technical Analysis: Strong Support Levels
EMA 20: 78.101 dollars. The table below summarizes the critical levels:
| Level | Price ($) | Score (/100) | Distance (%) | Sources |
|---|---|---|---|---|
| S1 (Support) | 60.000 | 69 ⭐ | -13,18 | Fibo 0.000, Donchian Lower |
| S2 (Support) | 65.842 | 68 ⭐ | -4,72 | Fibo 0.114 |
| R1 (Resistance) | 70.934 | 75 ⭐ | +2,64 | Pivot Point, Ichimoku |
| R2 (Resistance) | 79.578 | 69 ⭐ | +15,15 | Fibo 0.0 |
60.000 dollars is strong support; if broken, risk of deeper correction. Watch for BTC futures.
Related Coins: ARKM and AVAX Impact
While Arkham (ARKM) data illuminates SAFU movements, AVAX stands out in smart money longs. Hyperliquid (HYPE) under short pressure; BTC rally could affect these coins. Binance move contrasts with AVAX analysis.
Impact of Binance BTC Strategy on the Market
SAFU’s BTC weighting could accelerate institutional adoption. In the short term, 70.000 resistance will be tested; high rebound potential with RSI oversold.
Source: https://en.coinotag.com/binance-adds-4225-btc-to-safu-total-734-million
