Darkfost: BTC long-term holder exchange inflows cool down noticeably, market behavior trending toward rationality

Odaily News: Crypto analyst Darkfost stated on X platform that, looking at the BTC exchange inflows from long-term holders (LTH), during the market top in March 2024, LTHs were most active during the bull market phase, with daily average exchange inflows once exceeding the annual average by more than 5 times.

In contrast, LTHs were relatively quiet during the 2025 top, and subsequently as the bear market began, their activity increased noticeably, with the annual average of BTC daily exchange inflows rising from approximately 600 to approximately 1,000. As the market approached the bear market bottom, inflows on some trading days far exceeded the annual average, which coincided with increased realized losses among earlier high-price buyers.

Darkfost noted that LTH-related activity is currently gradually cooling down, exchange inflows remain significantly below the annual average, their behavior is changing, and the market is trending toward greater rationality.