Bitcoin Eyes $100K Again as Exchange Inflows and Miner Outflows Plummet

Bitcoin’s price may be gearing up for another surge towards $100,000 as critical on-chain metrics show reduced selling pressure from exchanges and miners.

Key Highlights

• Bitcoin Price Movement: Bitcoin hit an all-time high of $108,000 on December 17, 2024, before retreating over 10%.
• Exchange and Miner Outflows Drop: Significant declines in BTC exchange inflows and miner outflows signal lower selling activity.
• ETF Inflows Rebound: Renewed investor interest is driving inflows into Bitcoin exchange-traded funds (ETFs), contributing to market optimism.

Decline in Exchange and Miner Outflows

Reduced Selling Pressure
Data from CryptoQuant reveals that Bitcoin exchange inflows—the total BTC transferred to exchanges—and miner outflows—BTC sent by miners to exchanges—have steadily declined since November 2024.

In November, BTC exchange inflows peaked at 98,748 BTC on November 25, following two months of high activity. However, December saw inflows ranging between 11,000 and 79,000 BTC per day, a marked decrease.

This drop in inflow was mirrored by reduced miner activity. Bitcoin miners typically sell BTC to cover operational costs, but their outflows have been falling since November’s price rally. Miner outflows reached a high of 25,367 BTC on November 11 but dropped significantly at the start of January 2025. On January 1, miners sent just 5,489 BTC to exchanges, with even lower figures of 2,133 BTC recorded by January 3.

Market Insight and Predictions

Analyst Predictions
Bitfinex analysts project Bitcoin will trade between $95,000 and $110,000 in January. However, market expert Axel Adler suggests that a rise in daily trading volume is crucial for Bitcoin to break resistance and resume its upward trajectory.

“The market structure remains bullish, but we lack the trading volume for a strong push. We anticipate the market to recover post-holiday season,” Adler stated in a January 4 report.

ETF Flows Rebound
A positive sign for Bitcoin is the resurgence in ETF inflows. On January 3, Bitcoin ETFs recorded $900 million in inflows, reflecting renewed interest from traditional finance and institutional investors.

Bitcoin’s path to reclaiming $100,000 hinges on increasing trading volume and sustained institutional interest, as current data suggests decreasing selling pressure and growing market confidence.