June 28 (Cointime) - Over the past two weeks, miners have transferred more than $1 billion worth of bitcoin from their wallets to cryptocurrency exchanges, indicating increased trading activity and potential hedging strategies. According to CryptoQuant, approximately 33,860 BTC has been sent to derivatives exchanges, with most funds returning to miners' proprietary wallets.

This suggests that miners may be using their newly minted coins as collateral in derivatives trading activities, such as hedging. Despite the large transfers, the activity is not expected to significantly impact market selling pressure on the price of bitcoin, as most coins are not going to spot exchanges.