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<p class="is-style-lead">Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="URL" data-id="https://crypto.news/price/bitcoin/">BTC</a>) 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.</p> 
<p>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 $30,000.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> miners sent 54k <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> to Binance in the past 3 weeks. <br><br>No significant change in BTC-USD open interest, suggesting less likelihood of filling collaterals to punt new long positions. Spot selling seems more likely, imo.<a href="https://t.co/Sjlg5WYulw" target="_blank">https://t.co/Sjlg5WYulw</a> <a href="https://t.co/iFqNd1jMIA" target="_blank">pic.twitter.com/iFqNd1jMIA</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1676121105860558848?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 4, 2023</a>
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<p>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.</p> 
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<p>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 <a href="https://crypto.news/bitcoin-trading-activity-surges-during-us-market-hours-research-shows/">trading</a> volume has also seen a significant rise of 43%, surpassing the $16 billion mark.</p> 
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  BTC price – July 4 | Source: Trading View
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<p>Furthermore, bitcoin investment products registered $123 million in inflows over the past two weeks, according to a report by CoinShares.</p> 
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   <p lang="en" dir="ltr">Investors maintain a strong interest in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> as it hits record highs this year.<br><br>Coinshares reports a substantial influx of $310.6 million into Bitcoin investment products in the last two weeks.</p>— DeFi UnCut (@DefiUncut) <a href="https://twitter.com/DefiUncut/status/1676125735981809664?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 4, 2023</a>
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<p>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.</p> 
<p>According to a <a href="https://crypto.news/on-chain-data-suggests-the-rise-of-long-term-btc-investors/">report</a> 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.</p> 
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Miners hop on exchanges as bitcoin price hikes

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