Recent analysis from CryptoQuant sheds light on the dynamics of Bitcoin leaving exchanges. Contrary to claims of an impending BTC supply shock, the report suggests a significant portion of this outflow is simply being transferred to Bitcoin ETFs. This means the Bitcoin isn't necessarily being locked up in long-term storage, but rather being reallocated within the crypto ecosystem. While exchange balances are decreasing, the overall supply remains the same. The shift reflects the growing popularity of ETFs as a convenient and regulated way for investors to gain exposure to Bitcoin. This doesn't negate Bitcoin's scarcity, but it tempers expectations of an immediate supply squeeze driven solely by exchange outflows. Monitoring the ETF holdings alongside exchange balances will provide a more accurate picture of Bitcoin's supply dynamics. ```

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