#大户持仓动态 On-chain data has exploded!

Exchanges' Ethereum reserves have fallen to the lowest point since 2015, and Bitcoin is down to just 2.75 million coins still sitting on exchanges — this stuff is almost drained.

You ask, what does this mean?

The "living water" in the market is being heavily drained. This isn't the pace of ordinary retail investors; whales and institutions are secretly accumulating, either leaving coins in cold wallets to gather dust or locking them in staking. In short — not selling.

Even Wall Street is moving: US banks officially announced that from 2026, wealth advisors can directly recommend Bitcoin and Ethereum ETFs to clients. What does this mean? It indicates that large traditional capital pools are about to enter.

As the available coins in the market become increasingly scarce, yet the demand to buy keeps flowing in, the next script is clear — supply and demand are out of balance, ready to trigger.

But here’s a cold shower:

Bull markets are definitely not for retail investors. The data shows that 90% of retail investors lose money in a bull market. The reason isn’t a bad market; on the contrary, it’s because the market is so fierce that it exposes human greed, fear, and herd mentality.

Retail investors always play like this:

The more it drops, the more afraid they get, finally cutting at the bottom; when it rises, they start waiting for a pullback, missing the entire wave of the market, and eventually getting squeezed out with a shattered mindset, biting the bullet and chasing the high to buy in. Bull markets are like mirrors, amplifying every flaw — when greedy, they feel like geniuses; a pullback makes them doubt everything; seeing others double their holdings makes them envious, and in the end, they end up giving back all their gains.

So what to do now?

**Step 1**: Hold the main coins ($BTC, $ETH, and related ecosystem tokens ) firmly, and buy on dips when opportunities arise.

**Step 2**: Allocate small amounts to early-stage projects, betting on those with genuine narratives.

The conditions for cycle resonance are all in place — technology is upgrading, on-chain supply is depleting, macro policies are easing. When these factors move together, how far the market can go really has no ceiling. Ethereum breaking $8,500 might just be a station.

The key is: hold the main positions steadily, avoid chasing hype. In this bull market game, those who stay rational are always the ones who ultimately win.