Before its recent price correction, Bitcoin came close to hitting the six-digit milestone, achieving an all-time high of $99,645—a near 170% year-to-date increase. This notable price performance, followed by the recent price dip, has sparked discussions about the state of the market, particularly the profit-taking behaviour observed among investors. An analysis by a CryptoQuant analyst known as Darkfost sheds light on these dynamics, focusing on realized profits and investor behaviour linked to Binance, one of the largest cryptocurrency exchanges globally. Related Reading: Bitcoin’s Price Dip Triggers Alert On NVT Golden Cross—Here’s What To Watch For Are Investors Actively Taking Profits Now? According to Darkfost, tracking the profits realized by investors transferring Bitcoin to Binance can provide “valuable insights into the broader market sentiment and behaviour, especially considering Binance consistently handles higher volumes than any other exchange.” He notes that following Bitcoin’s breakthrough to a new high, there has been a noticeable increase in realized profits among the Binance cohort. This trend reflects a significant level of investor engagement, where users are capitalizing on the price s ..
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