[Analyst: CEX Bitcoin Balance Drops to Lowest Level Since 2017] BRN Research analysts stated that despite limited spot momentum, Bitcoin's fundamental structure is improving. According to data from CryptoQuant and Glassnode, exchange balances have dropped to approximately 1.8 million BTC, the lowest level since 2017. BRN Research Director Timothy Misir pointed out that Bitcoin's realized market cap (monthly growth) remains positive, indicating a continuous inflow of new funds. Misir also mentioned that the market opened with stable trends, accumulation buying persists, exchange supply is decreasing, and prices remain above the real market average, though they have yet to break through the $96,000–$106,000 range.