Bitcoin Exchange Balance Hits Highest Since June 15, Supply Squeeze Eases

The rebuild in exchange balances matters less as a directional signal than as a reversal of the supply condition that recently framed the market narrative. It suggests coins are moving back toward venues where they can be traded rather than held off-market, which shifts the near-term calculus for anyone tracking available float. Whether this reflects genuine distribution or routine repositioning is the open question, and the next readings of that balance will say more than this single print.