Since Bitcoin successfully broke its previous all-time high, the realized profits by investors transferring Bitcoin to Binance have risen significantly.
Tracking the realized profits of the Binance cohort provides valuable insights into the broader market sentiment and behavior, especially considering Binance consistently handles higher volumes than any other exchange.
This metric helps us understand whether investors are taking profits aggressively (Above 10M) or steadily, which can be crucial to confirm the strength of the ongoing trend.
For now, it seems that profit taking has paused but it's always worth keeping an eye on these signals to anticipate potential shifts in market momentum.
Written by Darkfost
