the inflow of BTC to exchanges (total amount of BTC transferred to exchanges) and the outflow of BTC from miners (amount of BTC miners send to exchanges) have significantly decreased since November 2024, indicating a reduction in selling pressure. Based on CryptoQuant data, after experiencing a peak in exchange inflow activity for about two months, the inflow of BTC to exchanges reached its peak on November 25, 2024, with 98,748 BTC. In December 2024, the inflow to exchanges decreased, with the total number of bitcoins sent to exchanges per day ranging from 11,000 to 79,000. The decrease in exchange inflow was accompanied by a decrease in miner outflow, indicating a reduction in selling pressure from Bitcoin miners, who often sell their holdings to pay for operational costs.