Analysts say Bitcoin inflows to Crypto Exchange Binance have skyrocketed over the past two weeks amid the results of President Donald Trump's tariffs and upcoming US Consumer Price Index (CPI).
However, another analyst argued that although it could indicate an imminent sale, it could indicate a bullish trend.
Investors are “actively moving their funds to vinance.”
Cryptoquant contributor Maarten Regterschot said in a post on April 9 that Binance's Bitcoin (BTC) reserve rose by 22,106 BTC, up to $1.82 billion over the past 12 days, totaling 590,874 BTC.
“This shows a strong acceleration in BTC's inflow into Binance. Investors may be actively moving their funds ahead of macro uncertainty and future CPI announcements,” Regterschot said.
According to CoinmarketCap, Bitcoin was trading at $82,474 at the time of publication, up 8.8% per day after Trump's 90-day tariffs suspended in all countries other than China.
Binance's Bitcoin Reserve has 590,874 Bitcoins. Source: Cryptoquant
The U.S. Bureau of Labor Statistics is expected to provide CPI results in March on April 10th.
During uncertain times, traders often move crypto into exchanges and sell them, leading to more volatility as their confidence begins to decline.
But Swyftx lead analyst Pav Hundal told Cointelegraph this wasn't necessarily a bearish signal. “The massive inflow may be a sign of sales, but it's a very liquid market. It's plausible that Vinance is shifting assets to that hot wallet to meet intense demand.”
“The next few days will be important in understanding the appetite of the crypto market after Trump climbs with tariffs,” he said.
At the beginning of April 9, Trump issued a 90-day hiatus on the administration's “mutual tariffs,” reducing tariff rates to 10% in all countries other than China, increasing to 125%, citing the country's anti-action against the United States.
“The tension between the US and China remains a structural overhang,” Hundal says.
Related: Bitcoin price risks at the new five-month low near $71k if tariff war and stock market turmoil continues
Meanwhile, crypto analyst Matthew Hyland said the results of the March CPI “indicate that inflation has collapsed to nearly 2.5%.”
“Another interesting day will come,” he added.
“A lower than expected CPI print will send us higher,” said Dyme, a Crypto analyst.
However, factset consensus estimates that economists expect consumer prices to rise by 0.1% per month in March.
On March 12, CPI was 3.1% lower than expected, surpassing 3.2% expectations, and a 0.1% decrease in headline inflation.
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This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
