Just noticed something interesting on the charts - Bitcoin's reserve ratio on major exchanges just hit levels we've only seen twice before, and both times preceded massive rallies. Back in early 2020 before the run to $60k, and again in late 2022 when things looked darkest after FTX blew up. Now it's happening again around current price levels near $66k. The pattern is pretty wild when you look at it. What caught my eye is that stablecoins aren't actually leaving exchanges - they're being deployed into Bitcoin buys. People are accumulating and moving coins to self-custody, not panic selling. That's the opposite of capitulation. The 2020 bottom explosive, 2023 was solid, and now we're in the third compression zone. Obviously this doesn't predict timing and there could be more short-term noise, but historically when this ratio signal flashes, the risk-reward setup has favored buyers over sellers. Three times in seven years is solid precedent for Bitcoin's timeline. Worth keeping on the radar.