Bitcoin exchange reserves have fallen to a historic low of just 2.72 million BTC, representing 13.6% of circulating supply, which is typically a bullish signal for long-term holders. However, simultaneously, stablecoin reserves experienced a $600 million outflow within 48 hours, raising concerns as historically similar capital outflows have often preceded market declines. Despite recent price volatility, data shows that the number of wallets holding over 100 BTC increased by 753 over the past three months, indicating that major investors remain confident.