The 14-day average daily inflow of BTC to exchanges has dropped to less than 27,000, indicating a contraction in liquidity and an increase in investor caution

The inflow volume of Bitcoin exchanges is a key indicator reflecting recent trading intentions. Calculated based on a 14-day average, this indicator has dropped from an average daily amount of 58,600 BTC in December last year to 26,900 BTC, meaning that the number of Bitcoins sent to exchanges has decreased by 54%, indicating market liquidity contraction and increased investor caution. In addition, one liquidity capital indicator reflecting the current market structure is Bitcoin's "hot supply volume", i.e., the weekly circulating quantity of Bitcoin. Data shows that after peaking in December 2024, this indicator has reduced from 5.9% of total circulating supply to just 2.8%, with over a 50% drop highlighting decreased short-term trading activity and overall market participation, suggesting speculative capital is retreating.