Inflows of $BTC on Binance see 'strong acceleration' before the March CPI print
The increase in inflows to the cryptocurrency exchange Binance, amid macroeconomic uncertainty and the upcoming CPI results, has left analysts divided on whether it signals a bullish or bearish trend.
Bitcoin inflows on Binance see 'strong acceleration' before the March CPI print
MARKET NEWS
Bitcoin inflows to the crypto exchange Binance have increased significantly over the past two weeks amid uncertainty surrounding U.S. President Donald Trump's tariffs and the Consumer Price Index (CPI) results, according to an analyst.
However, another analyst argues that while this may signal potential selling pressure, it could also indicate a bullish trend.
Investors are “actively moving funds to Binance”
CryptoQuant contributor Maarten Regterschot stated in a post on April 9 that the Bitcoin reserve
BTC
R$ 479,236
of Binance increased by 22,106 BTC, equivalent to US$ 1.82 billion, in the last 12 days, totaling 590,874 BTC.
“This shows a strong acceleration in BTC inflows to Binance. It is likely that investors are actively moving funds to Binance due to macroeconomic uncertainty and ahead of the CPI announcement,” Regterschot said.
According to CoinMarketCap, Bitcoin is trading at US$ 82,474 at the time of publication, with an increase of 8.8% in the last day following the momentum from Trump's 90-day tariff pause for all countries except China.
Cryptocurrencies, Markets, United States, Inflation
The Bitcoin reserve of Binance totals 590,874 BTC. Source: CryptoQuant
