Retail traders keep debating which narrative to chase, but smart money's been quietly accumulating. Exchange reserves for BTC just dropped to levels we haven't seen since 2018 – that's a serious supply squeeze happening right under everyone's nose.

When coins flow off exchanges at this pace, it usually signals strong hands taking custody. Institutions and whales aren't talking about it on social media, they're simply absorbing whatever's available. The crowd stays distracted by short-term noise while the real shift in ownership structure continues.

Historically, these supply drains from centralized platforms tend to precede major moves. Not making predictions here, just pointing out what the data shows. Less circulating supply on trading venues means tighter liquidity when demand eventually kicks in.