According to the statistics of CryptoQuant analyst Joaowedson, bitcoin miners transferred a total of 166.20 billion US dollars of bitcoin to CEX from 2023 to 2024, most of which occurred in 2024, and only 48 billion US dollars of bitcoin was withdrawn. According to Joaowedson, such a large transfer of bitcoin miners is unprecedented, making this group the largest sellers in the cryptocurrency market.