Bitcoin just broke through to a 2-month peak around $97,500, but here's what's interesting—retail holders are bailing. Over 47,000 small-cap investors ditched their coins in just 72 hours, likely spooked by volatility. Yet exchange wallets are at their lowest in 7 months. That divergence matters: fewer BTC sitting on exchanges means less immediate selling pressure despite the retail panic. It's a classic tension between short-term fear and structural tightness. Markets often reward patience over panic.