The inflow of BTC to exchanges (the total amount of BTC transferred to exchanges) and the outflow from miners (the amount of BTC sent to exchanges by miners) has significantly decreased since November 2024, indicating reduced selling pressure. According to CryptoQuant data, after experiencing a peak in exchange inflow activity for about two months, the inflow of BTC to exchanges peaked at 98,748 BTC on November 25, 2024. In December 2024, the inflow to exchanges decreased, with the total number of Bitcoins sent to exchanges ranging between 11,000 and 79,000 per day. The reduction in exchange inflow coincides with a decrease in miner outflows, indicating that the selling pressure from Bitcoin miners has lessened, as miners often sell their Bitcoin holdings to cover operating expenses.

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