The number of Bitcoins left on exchanges is down to just 2.43 million (a 7-year low). Recently, Bitcoin has been bought at the fastest pace in 10 years, with a 30-day net outflow from exchanges exceeding $3.4 billion. Whales have accumulated 270,000 BTC in 30 days, with a single-day purchase of 32,000 BTC setting a historic record. Bear market = stacking coins, bull market = cashing out. This year, institutions, whales, and retail investors are all positioning themselves in Bitcoin, not wanting to miss the once-every-4-years bottom-buying opportunity.