Quiet update that most people missed:
Several large wallets have been accumulating BTC on spot, not leverage, over the last few sessions.
At the same time, exchange reserves are continuing to trend down.
This matters.
When coins leave exchanges, it usually means one thing:
they’re not planning to sell anytime soon.
On the macro side, recent US data shows cooling inflation momentum, even if rates stay high for now.
The market is already pricing future easing, not today’s policy.
That’s why $BTC holds above key levels while funding stays neutral.
No FOMO. No panic. Just absorption.
$ETH is showing a similar pattern:
steady inflows to spot products, low volatility, and rising on-chain activity.
This is not distribution behavior.
Altcoins haven’t moved yet — and that’s the point.
Historically, rotation starts after BTC proves stability, not before.
Price looks boring.
Positioning is not.
Smart money moves quietly.
Retail reacts loudly — and late.
If you’re waiting for headlines, you’re trading the past.
The signal is already on-chain.
