According to @AltcoinDaily, Bitcoin on exchanges has fallen to a six-year low, indicating historically tight on-exchange BTC supply; source: @AltcoinDaily via X on Oct 4, 2025. Glassnode research documents that declining exchange balances reduce immediately available spot supply and are widely tracked as a proxy for near-term sell pressure; source: Glassnode, Exchange Balances metrics documentation. CryptoQuant recommends monitoring exchange reserves and exchange netflows to gauge shifts in potential sell pressure and liquidity; source: CryptoQuant, Metrics Guide for Exchange Reserves and Exchange Netflow.