On-Chain Alert: Binance $BTC Reserves Drop To ~650K BTC.

Exchange Netflow: Negative. Persistent Outflows Confirm Accumulation.
UTXO Movement: Coins Migrating From Hot Wallets To Cold Storage.
Realized Cap Distribution: Shifting Toward Long-Term Holder Bands.

Key Confluence:
Exchange Reserve Declining ✅
Spot ETF Inflows Absorbing Supply ✅
LTH Supply Ratio Expanding ✅
Price Recovering Despite Thinning Liquidity ✅

Sell-Side Liquidity Shrinking. Demand-Side Pressure Building.
On-Chain Structure Favors A Supply Squeeze Scenario.

Watch Exchange Netflows Closely.