Bitcoin inflows into crypto exchange Binance have surged over the past two weeks amid uncertainty over US President Donald Trump’s tariffs and the upcoming US Consumer Price Index (CPI) results, says an analyst.
However, another analyst argued that while it could signal an impending sell-off, it might also indicate a bullish trend.
CryptoQuant contributor Maarten Regterschot
“This shows a strong acceleration in BTC inflows to Binance. It’s likely that investors are actively moving funds to Binance due to the macro uncertainty and before the upcoming CPI announcement,” Regterschot said.
CoinMarketCap
Binance’s Bitcoin Reserve has 590,874 Bitcoin. Source:
The US Bureau of Labor Statistics is scheduled to deliver the CPI results for March on April 10.
During uncertain times,
However, Swyftx lead analyst Pav Hundal told Cointelegraph that this isn’t always a bearish signal. “Large inflows could be a sign of selling, but it is a very fluid market. It is plausible that Binance is shifting assets into its hot wallets to meet heavy demand.”
“The next few days are critical in understanding the appetite of the market for crypto after Trump’s climbdown on tariffs,” he said.
Earlier on April 9,
“Tensions between the US and China remain a structural overhang,” Hundal said.
Related:
Meanwhile, crypto analyst Matthew Hyland
“Another interesting day coming,” he added.
Crypto analyst Dyme
However, FactSet’s consensus
On March 12, the CPI
Magazine:
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