#美联储重启降息步伐 ⚡ Ethereum exchange reserves hit their lowest level since 2015—what does this signal mean?

A recent data point has been making the rounds—ETH held on major exchanges is accelerating outflows, and the total is now at its lowest point in the past ten years. Market liquidity is quietly being drained.

What’s even more remarkable is that all the major players are behind this move. A well-known crypto fund scooped up 138,000 ETH in a single week last week, more than doubling their previous buying pace. Their goal is crystal clear—capture 5% of the global circulating supply of Ethereum. This is far from a minor operation; it’s a blatant locking-up strategy.

Meanwhile, traditional finance is also getting restless. A major US bank just announced that starting in 2026, its wealth management division will be able to directly recommend Bitcoin and Ethereum ETF products to clients. What does that mean? Regulated capital has been waiting on the sidelines, just waiting for the door to open fully.

Put these pieces together, and the script becomes clear:

**On one side, supply is collapsing:** Fewer and fewer coins are left on exchanges, whales are still accumulating like crazy, and there’s really not much left to sell in the market.

**On the other side, demand is exploding:** Mega-whales are scooping up coins, Wall Street money is lining up to get in—the double pressure is coming down all at once.

When there are barely any coins left circulating and the buyers are a combo of giants and institutions—that kind of extreme supply-demand imbalance is often a precursor to a major move in the market.

How far can ETH run this time? We may see the answer very soon.

$ETH $BTC