A remarkable development is taking place in the cryptocurrency market. Bitcoin (BTC) on Binance, according to CryptoQuant data 
$90,186.58 reserves fell to the lowest level in the last five years. While the BTC price is around 93 thousand dollars, although this decline may seem like a negative picture at first glance, analysts emphasize that on the contrary, it indicates that the market is structurally strengthened. Historically, the decrease in the amount of Bitcoin on exchanges often coincides with periods of increased long-term confidence, not sales pressure.
Custody Trend and ETF Effect
One of the most important reasons for the decrease in reserves is the accelerated “self-custody” tendency of investors. As the Bitcoin price rises, long-term investors and high net worth individuals are choosing to move their assets to cold wallets. This move reduces the potential selling pressure by reducing the amount of BTC that can be sold on exchanges. This behavior, which is especially common in bull markets, shows that long-term belief is strong rather than panic.
Spot Bitcoin ETFs are also added to this table. ETFs offered by giant financial institutions such as BlackRock, Fidelity and recently Vanguard in the USA attract a significant amount of capital. However, the Bitcoins held in these products are kept in institutional custody services instead of central exchanges. As a result, while the entry of institutional investors into the market accelerates, reserves on major exchanges such as Binance are naturally decreasing. Analysts interpret this as a structural indicator of corporate adoption, not a risk signal.
Derivatives Market Reset and Technical Outlook
The harsh selling wave experienced in late November led to large liquidations, especially in the Asian session. During this period, leveraged positions were closed, margin guarantees were reduced, and the amount of BTC held in Binance temporarily decreased. According to experts, this is a short-term and mechanical effect; It does not indicate a permanent deterioration in market perception.
During the same period, updates made by Binance on the compliance and regulation side also caused some users to rebalance their assets. However, these steps are seen as part of regulatory normalization. In the general framework, the contraction of Bitcoin supply on exchanges tightens the supply in circulation. Such environments have supported price increases in the medium and long term in the past. The current picture suggests that Bitcoin is entering the accumulation process again.
Technical indicators in the market also support this view. According to CoinMarketCap data, BTC has recovered 11 percent from the bottom of $ 82 thousand in November. It is stated that “seller fatigue” occurred after the liquidation of approximately 19 billion dollars. While the bullish signal in the MACD and the neutral RSI show that there is room for upward movement, $101 thousand stands out as resistance and $86 thousand stands out as an important support level.
Finally, a similar development is Ethereum 
$3,106.18 It happened on the front. The decrease in ETH reserves on major exchanges in recent weeks has shown that the trend towards staking and institutional custody solutions has increased. Analysts state that this trend is not unique to Bitcoin and may be a sign of a common structural transformation across major crypto assets.
