According to CoinMeta, crypto analyst Darkfost indicates that the activity of long-term Bitcoin holders has cooled down compared to the peak of the bull market in 2024, with exchange inflows falling below the annual average, suggesting that the market is becoming more rational. During the market peak in March 2024, the average daily inflow into exchanges for long-term holders was more than five times the annual average. Currently, the average daily exchange inflow for BTC has risen from about 600 coins to around 1000 coins, and on some trading days, the inflow has exceeded the annual average, which coincides with the situation where buyers at higher prices are experiencing increased losses.