Bitcoin's exchange reserves have plummeted to an all-time low of 2.38 million BTC, suggesting the cryptocurrency may be exiting its pre-parabolic phase after three years of consolidation. This decrease in reserves, coupled with a 10% increase in inactive supply since 2024, mirrors patterns observed during previous bull runs in 2017 and 2021. Analysts believe this accumulation trend could indicate a significant price surge is on the horizon.