Bitcoin's exchange supply has reached historic lows, with centralized platforms now holding just 1.2 million BTC, a significant decrease from 1.8 million BTC a year ago. According to Santiment, 403,200 BTC have exited exchanges over the past year, marking a 2.09% reduction in circulating supply. This trend is driven by long-term holders and institutions moving their coins to custody, thereby reducing sell pressure. Analysts are optimistic about a potential market rally if this accumulation trend continues. Michael van de Poppe suggests that Bitcoin could reach $100,000 before Christmas if buyers maintain current levels. As Bitcoin consolidates, altcoins may also gain momentum during a broader market rally.