Exchange BTC inflows (the total amount of BTC transferred to the exchange) and miner outflows (the amount of BTC sent by miners to the exchange) have declined significantly since November 2024, indicating less selling pressure. According to CryptoQuant data, exchange BTC inflows peaked on November 25, 2024 at 98,748 BTC, after about two months of peak exchange inflow activity. Exchange inflows declined in December 2024, with the total number of bitcoins sent to exchanges ranging between 11,000 and 79,000 per day. The decrease in exchange inflows is accompanied by a decrease in miner outflows, indicating a decrease in selling pressure from bitcoin miners, who often dump their bitcoin holdings to cover operating expenses.