BTC exchange inflow and miner outflow drop — BTC to reclaim $100K?
The price of Bitcoin hit an all-time high of $108,000 on December 17, 2024, but has declined by more than 10% since that time.
Bitcoin (BTC) exchange inflow — the total amount of BTC transferred to exchanges — and miner outflow — the amount of BTC sent by miners to exchanges — have significantly dropped since November 2024, suggesting reduced selling pressure.
According to data from CryptoQuant, BTC exchange inflows in November 2024 peaked at 98,748 BTC on Nov. 25, following approximately two months of heightened exchange inflow activity.
Exchange inflows declined in December 2024, but remained significant, with the total number of Bitcoin sent to exchanges ranging from 11,000 to 79,000 coins per day.
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Author: Vince Quill
