[Analysis: Bitcoin Long-Term Holder Activity Far Below 2024 Peak, Exchange Inflows Below Annual Average] Crypto analyst Darkfost stated that the activity of Bitcoin long-term holders (LTH) is gradually cooling down, and exchange inflows remain significantly below the annual average. Their behavior is changing, and the market is becoming more rational. From the perspective of exchange inflows, during the market peak in March 2024, LTHs were most active during the bull market phase, with daily exchange inflows exceeding the annual average by more than five times. In contrast, LTHs were relatively calm during the 2025 peak, but their activity increased significantly as the bear market began. The annual average daily BTC exchange inflow rose from approximately 600 BTC to around 1,000 BTC. As the market approached the bear market bottom, daily inflows on certain days far exceeded the annual average, which coincided with increased losses realized by those who had bought at previous highs.