The market is currently trapped in a high-stakes "wait-and-see" phase. Bitcoin is hovering around $90,500, showing significant resilience despite the broader rotation out of tech and AI equities we’ve seen this week.

While short-term volatility measures are elevated due to recent US macro data, the real story is in the "Exchange Reserve" metric. On-chain data shows exchange balances hitting multi-year lows. We are seeing a quiet but aggressive "supply thinning" as long-term holders and corporate treasuries move assets into cold storage. This isn't a supply shock yet, but the liquidity floor is getting tighter every day.

Takeaway: Price consolidation with shrinking exchange supply often precedes a "volatility squeeze"—keep an eye on the $93k resistance level for a potential breakout signal.

How are you positioning your bags for the weekend—holding steady or looking for a dip? 👇

$BTC

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