According to Cointelegraph, the inflow of BTC into the exchange (the total amount of BTC transferred to the exchange) and the outflow of BTC by miners (the amount of BTC sent by miners to the exchange) have significantly decreased since November 2024, indicating reduced selling pressure. According to CryptoQuant data, after experiencing a peak of approximately two months of exchange inflow activity, the November 2024 exchange BTC inflow reached a peak of 98748 BTC on November 25th. In December 2024, the inflow to the exchange decreased, with a total of 11000 to 79000 bitcoins sent to the exchange per day. The decrease in exchange inflows is accompanied by a decrease in miner outflows, indicating a reduction in selling pressure for Bitcoin miners, who often sell their Bitcoin holdings to pay for operating expenses.
Since Trump's victory in November, Bitcoin has risen and miners have made profits, but the outflow of funds from miners has been decreasing. CryptoQuant data shows that on November 11th, the outflow of Bitcoin reached its peak when miners sent 25367 BTC to the exchange, and the price of Bitcoin reached approximately $88000 at that time. On January 1, 2025, miners sent 5489 BTC to the exchange, 5748 BTC on January 2, and 2133 BTC on January 3.
