OKX’s realized prices spiked this week as users took profits, while Binance users maintained positions.
Bitcoin (BTC) and Ethereum (ETH) holders on Binance are showing signs of strong holding behavior.
This, however, contrasts with the profit-taking patterns seen on OKX.
According to new data shared by CryptoQuant, as Bitcoin traded near $120,000 this week, OKX’s realized price on user deposit addresses has jumped to $97,180. This pointed to a rush of inflows and profit-taking as the market moved higher.
During the same period, Binance’s realized price for Bitcoin deposits remained steady at $45,070. This means that users are sticking to their cost bases and resisting the urge to sell despite significant volatility. Such a trend is a major shift from previous rallies where Binance whales actively realized profits, and suggests a decline in large-holder selling pressure.
Ethereum shows a similar divergence. With ETH around $3,570, OKX’s realized price has climbed to $3,100, while Binance’s sits at $2,920, increasing gradually rather than in sharp moves. This pattern indicates that Binance users are opting for longer-term positioning instead of reacting to every price swing.
On the other hand, OKX user behavior aligns with short-term speculative trading as realized prices rise quickly with market gains. The reduction in profit-taking by Binance whales may point to growing confidence in further upside potential or a simple lack of urgency to exit.
This broader holding trend among Binance users may reflect the constructive market structure Swissblock described.
In its latest analysis, the analytics firm explained that Bitcoin’s price structure remains bullish despite momentum pausing. Currently, while momentum has stalled, there is no breakdown in structure. This means that Bitcoin is holding its $117.4K support and projecting above $118K even after absorbing selling pressure. As such, buyers remain active, and the uptrend is intact.
After recent rallies, altcoins are also in a cooling phase with corrections and drawdowns, which also sets up future opportunities. Swissblock said that most altcoins remain in the “de-risk” quadrant and reflect a cautious market without strong buy signals yet. While a few alts show early signs of recovery, it is not the time for aggressive re-entry. The recommended approach is to wait for a clear transition into the “accumulation quadrant,” where structure and momentum align.
