$ETH The exchange supply of Ethereum has just reached levels not seen since 2016 — which is highly indicative. When traders move their ETH off exchanges, it usually means they are either holding long-term or being cautious about selling. Now, this decline sends two signals: reduced short-term selling pressure and traders tightening their positions. The less supply on exchange order books, the more difficult it is to sell large amounts of assets quickly. So, what does this mean for the market? The risk of immediate sell-offs is reduced, perhaps increasing confidence in the price bottom. It is worth paying attention to how this dynamic will evolve as the overall market changes.