Bitcoin's price, which peaked at an all-time high of $108,000 on December 17, 2024, has since corrected by over 10%. However, key metrics suggest reduced selling pressure, fueling hopes for a rally back above $100,000.

Key Metrics Indicate Reduced Selling Pressure

Exchange Inflows Drop:
Data from CryptoQuant shows Bitcoin exchange inflows — the total BTC transferred to exchanges — have declined significantly since November 2024. Inflows peaked at 98,748 BTC on November 25, during heightened activity following the U.S. presidential election.

  • December inflows ranged from 11,000 to 79,000 BTC daily.

  • The reduced inflows indicate fewer traders are sending BTC to exchanges, suggesting less intent to sell.

Miner Outflows Decline:
Bitcoin miner outflows — BTC sent by miners to exchanges — have also dropped since November, when miners secured profits during the Trump-driven rally.

  • Miner outflows peaked at 25,367 BTC on November 11, when BTC hit $88,000.

  • Recent outflows: 5,489 BTC (Jan. 1), 5,748 BTC (Jan. 2), and 2,133 BTC (Jan. 3), signaling lower selling pressure from miners.

Market Structure and Institutional Activity

Low Trading Volume Limits Upside Potential:
Analysts emphasize the need for increased trading volume to break resistance and propel BTC upwards.

  • Market analyst Axel Adler noted on January 4:

"The market structure remains bullish, but we lack sufficient trading volume for a strong impulse."

Renewed Institutional Interest:
Exchange-traded fund (ETF) inflows rebounded sharply with $900 million on January 3, 2025, reversing several days of significant outflows. This suggests renewed interest from institutional investors, a potential catalyst for price recovery.

Price Outlook for January

Bitfinex analysts predict Bitcoin will trade within the $95,000–$110,000 range for January, with the possibility of breaching the $100,000 psychological resistance if volume increases.

With reduced exchange inflows, lower miner outflows, and growing ETF interest, Bitcoin appears poised for a potential recovery. However, a significant move to reclaim $100,000 will depend on bolstered trading volumes as the market shakes off the holiday lull, according to Cointelegraph.

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