PANews reported on January 5 that according to Cointelegraph, the exchange BTC inflow (the total amount of BTC transferred to the exchange) and miner outflow (the amount of BTC sent to the exchange by miners) have dropped significantly since November 2024, indicating that the selling pressure has eased. According to CryptoQuant data, after about two months of peak exchange inflow activity, the exchange BTC inflow in November 2024 peaked at 98,748 BTC on November 25. In December 2024, the exchange inflow declined, and the total number of bitcoins sent to the exchange per day ranged from 11,000 to 79,000. The reduction in exchange inflows was accompanied by a reduction in miner outflows, indicating a reduction in selling pressure on Bitcoin miners, who often sell their Bitcoin holdings to pay for operating expenses.
Since Bitcoin rose after Trump's victory in November and miners made profits, miners' outflows have been declining. CryptoQuant data shows that Bitcoin outflows peaked on November 11, when miners sent 25,367 BTC to exchanges, when the price of Bitcoin reached about $88,000. On January 1, 2025, miners sent 5,489 BTC to exchanges, 5,748 BTC on January 2, and 2,133 BTC on January 3.
