Bitcoin Surge: How Trump’s Tariff Pause and CPI Data Are Impacting Binance
Bitcoin Surge – Bitcoin inflows into Binance have spiked significantly over the past two weeks due to growing uncertainty over US President Donald Trump’s tariffs and the upcoming US Consumer Price Index (CPI) results, according to a recent analysis. As of April 9, Binance’s Bitcoin reserve saw an increase of 22,106 BTC (worth $1.82 billion) over the past 12 days, bringing its total reserve to 590,874 BTC. This surge suggests a sharp acceleration in Bitcoin inflows to the exchange.
Investors Move Funds to Binance Amid Macro Uncertainty
CryptoQuant contributor Maarten Regterschot pointed out that these inflows are likely driven by investors actively moving funds to Binance due to macro uncertainty and the anticipation of the upcoming CPI announcement. As of publication, Bitcoin was trading at $82,474, marking an 8.8% increase in the past 24 hours, following Trump’s 90-day tariff pause on all countries except China. The US Bureau of Labor Statistics is set to release the CPI results for March on April 10.
During times of uncertainty, traders often move their assets to exchanges, a sign of increased volatility as confidence begins to wane. However, Swyftx lead analyst Pav Hundal noted that large inflows don’t always signal a bearish market. Hundal explained, “Large inflows could be a sign of selling, but it is also possible that Binance is shifting assets into its hot wallets to meet heavy demand.”
The Impact of Tariff Tensions and CPI Results
The impact of Trump’s tariff pause is still to be fully understood, as it could influence market sentiment. Matthew Hyland, another crypto analyst, suggested that March CPI results will likely show inflation dropping near 2.5%, which could further affect market behavior. In contrast, economists’ consensus estimates predict consumer prices will have risen by 0.1% month-over-month in March.
This growing tension over tariffs and CPI results makes the next few days crucial for assessing crypto market sentiment and the future price movement of Bitcoin.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
Leave a comment