Analysis: BTC exchange inflows and miner outflows have fallen sharply since November 2024, indicating a reduction in selling pressure

Odaily reports that since November 2024, the inflow of Bitcoin to exchanges (the total amount of BTC transferred to exchanges) and the outflow of Bitcoin from miners (the amount of BTC sent to exchanges by miners) have significantly decreased, indicating a reduction in selling pressure. According to CryptoQuant data, the BTC exchange inflow reached a peak of 98,748 BTC on November 25, 2024, following a period of highly active exchange inflow activity for about two months prior. In December 2024, the BTC exchange inflow decreased but remained quite substantial, with the total number of Bitcoins sent to exchanges ranging between 11,000 and 79,000 per day. The decrease in exchange inflow has been accompanied by a decrease in miner outflow, suggesting a reduction in the selling pressure from Bitcoin miners, who often sell their BTC holdings to cover operational expenses. Since the historic price increase of Bitcoin during the period following the election of former President Trump, the outflow of funds from miners has been declining. CryptoQuant data shows that the outflow reached a peak on November 11, when miners sent 25,367 BTC to exchanges, at a time when the Bitcoin price was around $88,000. On January 1, 2025, miners sent 5,489 BTC to exchanges, on January 2, they sent 5,748 BTC, and on January 3, they sent 2,133 BTC. (Cointelegraph)