Bitcoin Deposits Surge on Binance Ahead of U.S. CPI Data

Bitcoin deposits on the crypto exchange Binance have surged over the past two weeks, amid macroeconomic uncertainty and anticipation of U.S. CPI data.

Some analysts view the trend as bearish, while others suggest it may reflect growing market demand rather than sell pressure.

Investors Actively Moving Funds to Binance

CryptoQuant contributor Maarten Regterschot noted on April 9 that Binance’s
BTC
€74,386
reserves rose by 22,106 BTC—worth $1.82 billion—over 12 days, reaching 590,874 BTC.

“This marks a notable acceleration in BTC deposits on Binance,” said Regterschot. “The increase likely stems from macroeconomic concerns and the upcoming CPI release.”

According to CoinMarketCap, Bitcoin traded at $82,474 at the time of writing, up 8.8% on the day, following the announcement of a 90-day tariff pause from Trump—excluding China.

Traders Prepare for CPI and Market Shifts

The U.S. Bureau of Labor Statistics is set to release March CPI data on April 10, which could influence short-term crypto sentiment and market direction.

During volatile periods, traders tend to move crypto to exchanges to sell, causing price swings as confidence wavers.

Still, Swyftx lead analyst Pav Hundal told Cointelegraph that high inflows are not always bearish signs.

“Large deposits may indicate selling, but it’s possible Binance is warming up hot wallets to meet rising demand,” said Hundal.

Tariffs, Inflation, and Market Sentiment Collide

The coming days will be key to gauging market appetite for crypto following Trump’s rollback on reciprocal tariffs.

Earlier on April 9, Trump imposed a 90-day pause on tariffs for all nations except China, which now faces a 125% rate, citing retaliatory duties.

“U.S.-China tensions remain a long-term structural headwind,” added Hundal.

Meanwhile, crypto analyst Matthew Hyland predicted March CPI results will show inflation nearing 2.5%, signaling continued easing.

Lower CPI Could Trigger Market Upswing

“Another interesting day is ahead,” Hyland posted. Analyst Dyme echoed this, saying: “If CPI is lower than expected, we’ll likely rally upward.”

Consensus from FactSet economists points to a modest 0.1% monthly rise in March.

Back on March 12, CPI surprised markets with a softer 3.1%—beating the 3.2% forecast—alongside a 0.1% drop in core inflation, fueling a short-term crypto rally.