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Massive Bitcoin inflows surge at Binance ahead of March CPI – Is a rally imminent?
In a recent development, massive Bitcoin inflows have surged at Binance ahead of the highly anticipated U.S. Consumer Price Index (CPI) announcement in March. This sudden influx of digital assets has sparked speculation on whether this could be a sign of an impending rally.
The data shows that over 22,000 BTC have flowed into Binance within the span of less than two weeks. Binance’s Bitcoin reserves have increased from 568,768 BTC on March 28 to 590,874 BTC by April 9. This sudden surge in assets can be attributed to investors shifting their focus away from scarcity and onto macroeconomic uncertainty.
The whales at Binance appear to be accumulating rather than panicking, as some may interpret these inflows as a sign of potential sell pressure. However, others argue that this influx is actually strategic positioning ahead of the CPI announcement, which could have significant implications for the market.
In conjunction with whale activity, on-chain metrics also demonstrate bullish sentiment. Strong holder profitability and key price support zones are supporting a rally.
Source: https://ambcrypto.com/massive-bitcoin-inflows-surge-at-binance-ahead-of-march-cpi-is-a-rally-imminent/
