Bitcoin
Bitcoin (BTC)
$61,949.00 3.10778
Bitcoin price
Ethereum
Ethereum (ETH)
$3,402.98 1.93658
Ethereum price
BNB
BNB (BNB)
$576.88 2.17063
BNB price
Solana
Solana (SOL)
$137.24 5.25223
Solana price
XRP
XRP (XRP)
$0.4758780 0.76369
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 4.9228
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000128 14.47779
Pepe price
Bonk
Bonk (BONK)
$0.0000232 8.25668
Bonk price
Bitcoin
Bitcoin (BTC)
$61,949.00 3.10778
Bitcoin price
Ethereum
Ethereum (ETH)
$3,402.98 1.93658
Ethereum price
BNB
BNB (BNB)
$576.88 2.17063
BNB price
Solana
Solana (SOL)
$137.24 5.25223
Solana price
XRP
XRP (XRP)
$0.4758780 0.76369
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 4.9228
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000128 14.47779
Pepe price
Bonk
Bonk (BONK)
$0.0000232 8.25668
Bonk price
Bitcoin
Bitcoin (BTC)
$61,949.00 3.10778
Bitcoin price
Ethereum
Ethereum (ETH)
$3,402.98 1.93658
Ethereum price
BNB
BNB (BNB)
$576.88 2.17063
BNB price
Solana
Solana (SOL)
$137.24 5.25223
Solana price
XRP
XRP (XRP)
$0.4758780 0.76369
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 4.9228
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000128 14.47779
Pepe price
Bonk
Bonk (BONK)
$0.0000232 8.25668
Bonk price
Bitcoin
Bitcoin (BTC)
$61,949.00 3.10778
Bitcoin price
Ethereum
Ethereum (ETH)
$3,402.98 1.93658
Ethereum price
BNB
BNB (BNB)
$576.88 2.17063
BNB price
Solana
Solana (SOL)
$137.24 5.25223
Solana price
XRP
XRP (XRP)
$0.4758780 0.76369
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000178 4.9228
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000128 14.47779
Pepe price
Bonk
Bonk (BONK)
$0.0000232 8.25668
Bonk price
SirWin
SirWin
SirWin

Miners hop on exchanges as bitcoin price hikes

miners-hop-on-exchanges-as-bitcoin-price-hikes
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Markets
Miners hop on exchanges as bitcoin price hikes

Bitcoin (BTC) has been on a green run over the past two weeks while steadily standing above the $30,000 mark. With the recent surge, bitcoin miners have deposited their holdings into the exchanges.

According to data from CryptoQuant, BTC miners sent more than $1.675 billion worth of digital gold, 54,000 coins, to crypto exchanges. This is the first massive miners’ outflow since April, when bitcoin was trading between $28,000 and $30,000.

Moreover, the current situation might trigger a surge in spot selling as the BTC to USD open interest (OI) didn’t witness a notable change over the past month, per CryptoQuant.

The miner outflow comes as bitcoin registers a 1% gain in the past 24 hours with a market cap of over $602 billion. BTC is trading at $31,030 at the time of writing. The asset’s 24-hour trading volume has also seen a significant rise of 43%, surpassing the $16 billion mark.

Miners hop on exchanges as bitcoin price hikes - 1
BTC price – July 4 | Source: Trading View

Furthermore, bitcoin investment products registered $123 million in inflows over the past two weeks, according to a report by CoinShares.

Per the report, BTC represents around 98% of all asset inflows in the past two weeks, totaling almost $125 million. Over the past month, bitcoin monthly flows reached a whopping $284.2 million, suggesting a strong investor interest.

According to a report on July 3, the amount of BTC inflows to exchanges has dropped by 84% since May 2021, showing signs of HODLing bitcoins on self-custodial wallets.