Investor behavior in the crypto market is shifting as Binance’s latest Proof-of-Reserves (PoR) data reflects a subtle but meaningful change: users are moving assets from Bitcoin to Ethereum. Meanwhile, Shiba Inu (SHIB) continues to show signs of a potential breakout as whale activity reaches a six-month high. Together, these developments paint a picture of a crypto market cautiously repositioning ahead of mid-year volatility.

Binance’s June PoR: Ethereum Rises, Bitcoin Falls

Binance’s 31st PoR snapshot, dated June 1, provides a clear look at user asset trends across the platform. The most notable change is a 1.82% decline in Bitcoin holdings, now sitting at 593,000 BTC. On the other hand, Ethereum balances have increased by 1.05%, totaling 5.337 million ETH. USDT holdings also dipped slightly by 0.77%, down $223 million to 28.83 billion.

These changes reflect routine rebalancing but also hint at a broader trend: investors are beginning to lean toward Ethereum, possibly driven by anticipation of upcoming network developments, ETF momentum, or simply a search for relative stability in a volatile market.

With approximately $110 billion in total reserves across BTC, ETH, USDT, and USDC, Binance continues to demonstrate significant financial backing. Only Coinbase holds more, with $129 billion in custody according to previous reports.

BNB Slightly Down After Update

Following the PoR release, Binance Coin (BNB) experienced a minor pullback, dropping below $650 to $649.89. Although the dip is modest — just 0.15% over the past 24 hours — it indicates that investors are reading between the lines. Despite Binance’s transparency, macro uncertainty and tighter regulatory conditions are prompting a cautious market response.

SHIB Breakout Setup Underway Amid Whale Activity Spike

While Binance data dominates headlines, Shiba Inu (SHIB) is quietly building momentum behind the scenes. The token remains in a tight consolidation range near $0.0000125, just above the important support level of $0.0000120. Historically, this zone has provided a solid base for upward moves, and technical indicators suggest it could do so again.

According to IntoTheBlock, more than 24 trillion SHIB changed hands via large transactions on June 5 — the highest single-day whale activity in over six months. Over 500 large-scale transfers occurred, signaling either aggressive accumulation or strategic redistribution. This spike in activity aligns with a neutral RSI near 40, indicating the asset is neither oversold nor overbought, leaving room for price movement.

If SHIB can hold support and reclaim resistance at $0.0000134 to $0.0000138, a push toward $0.0000155 could follow. However, like all breakout setups, it hinges on sustained demand and supportive market sentiment.

Proof-of-Reserves and Market Confidence

Binance’s PoR initiative has become a cornerstone of its approach to transparency. Regularly publishing reserve audits not only reassures users but also helps anchor trust in an industry still recovering from high-profile failures. While this latest update didn’t contain any red flags, the small shift in asset distribution will be closely analyzed as the second half of the year unfolds.

With regulatory attention increasing globally, consistent disclosure is becoming a competitive edge for exchanges. Binance’s reliability in this regard continues to set a standard, even as competitors catch up.

Ethereum’s Quiet Rise Could Reflect Long-Term Rotation

The growing Ethereum balances in Binance’s PoR could be a preview of a broader market rotation. Ethereum has been gaining traction among both retail and institutional investors due to its evolving ecosystem and potential staking rewards. Recent ETF filings and Ethereum-based DeFi growth may be influencing user preferences as well.

This shift doesn’t suggest Bitcoin is losing relevance — far from it. Rather, it highlights a more diversified outlook among crypto participants who are spreading exposure across major assets instead of going all-in on BTC.

Conclusion: A Market in Transition

The crypto market is entering a pivotal period. Binance’s Proof-of-Reserves confirms that users are adjusting their portfolios, leaning more on Ethereum as Bitcoin wavers near resistance. At the same time, Shiba Inu is flashing signals of a possible trend reversal, backed by a surge in whale transactions.

Investors should remain alert as these shifts may mark the beginning of broader momentum changes. Whether it’s SHIB’s breakout potential or ETH’s rising appeal, the next few weeks could shape how traders position themselves for the second half of 2025.