COINOTAG reported on January 5th that the Bitcoin ecosystem has experienced a notable shift since November 2024, characterized by a marked decline in both the inflow of BTC to exchanges and the outflow from miners. Data from CryptoQuant highlights that the peak inflow to exchanges reached a significant 98,748 BTC on November 25th, 2024, amidst a surge of activity that persisted for approximately two months. Throughout December, although the inflow volume saw a slight decline, it consistently fluctuated between 11,000 and 79,000 BTC daily.

This reduction in inflow is coupled with a discernible decrease in miner outflows, which intuitively lessens the selling pressure often associated with operational liquidity needs. Following the substantial price rally post-Trump’s election, miner dispositions have progressively moderated. Notably, miner outflows hit their zenith on November 11th, with 25,367 BTC transacted at a price of approximately $88,000. In contrast, by January 1st, 2025, outflows had diminished to just 5,489 BTC, further indicating a strategic adjustment among miners.