ETH off exchanges ≠ instant pump.

Here’s why:

Falling CEX balances is bullish and yes.

BUT...

A large amount of ETH is locked up:

• Staking contracts

• LSD protocols

• L2 ecosystems

• DeFi apps

It’s a supply squeeze in slow motion.

The next move?

The key is not what comes out, but where ETH is going.

Lfg🚀🚀