MorenoDV_2026-11-04

Binance’s Reserve Ratio Breaks 1.5 as Stablecoin Outflows Outpace BTC

Bitcoin slipped toward $77K while Binance’s Bitcoin-to-stablecoin reserve ratio jumped from around 1.40 to 1.57. That took it above 1.50 for the first time since October 2025. The divergence matters because a falling BTC price ordinarily pulls the ratio lower, all else equal. The ratio compares the dollar value of BTC held on Binance with the value of its tracked stablecoin reserves. At 1.57, Binance holds roughly $1.57 in BTC for every $1 in tracked stablecoins. When the ratio rises as BTC falls, the change in reserve balances is large enough to offset the decline in BTC’s dollar value. The October 29 hack offers a plausible explanation for the timing. Binance reported $6.34B in affected assets, including both BTC and stablecoins. In the aftermath, CryptoQuant recorded $3.75B in net outflows of Ethereum-based USDT and $1.33B in USDC on November 1–2, alongside 25,793 BTC. Those outflows represented 10.3% and 29.9% of the respective stablecoin reserves, versus 3.6% for BTC, using October 28 balances as the baseline. That imbalance is consistent with a shrinking denominator driving the latest jump. The 1.50 area also featured around the 2020 and early 2023 market turns. This time, the crossing came as BTC weakened and capital left Binance. If Binance’s stablecoin reserves rebuild and BTC spot buying strengthens, the spike will look more like a temporary disruption