Ki Young Ju: Binance traders reached record unrealized profits as ETFs drove crypto rally

Ki Young Ju: Binance traders reached record unrealized profits as ETFs drove crypto rally
Binance profits soar as ETFs lead

Ki Young Ju, founder & CEO at CryptoQuant, notes that seasoned Bitcoin traders have enjoyed their most profitable cycle yet. Unlike previous cycles where crypto exchange traders often served as exit liquidity, recent gains were instead attributed to the influx of ETFs and DATs. This shift led Binance traders to achieve unrealized profits almost three times greater than the top levels recorded in 2021.

Earlier this year, Ki Young Ju noted that Bitcoin’s rally was driven by futures activity while spot demand remained negative. He also observed that hedge funds on CME had turned net long on BTC futures, marking an uncommon shift in institutional positioning. These developments preceded the recent profitable cycle for exchange traders.

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