🚀🎉 Bitcoin's price is soaring! A whopping 16,021 BTC (worth over $1 billion) was withdrawn from Coinbase following the US CPI announcement. Who's the mystery recipient? CryptoQuant analysts suggest it's an institutional player. 💼🔍

This isn't the first time we've seen such a move - it's the seventh outflow from Coinbase in 2024. These outflows have been ramping up since February 19, around a month after the US SEC gave the green light to nearly a dozen spot Bitcoin ETFs. 🚦📈

Could this just be Coinbase moving funds internally? CryptoQuant analysts don't think so, saying, "There is a high probability that this transaction is an institutional purchase." 🏦💰

The timing is interesting too - the withdrawal happened just before the US CPI numbers were announced, which were bang on target at 3.4%. 🎯

Bitcoin's price reacted with a rally, jumping to $64,000 after the inflation rate announcement. It even touched a multi-day peak of over $64,500 before retracing by around $500. 📊🚀

Many experts have speculated that Bitcoin's next bull rally will only happen when the US Federal Reserve decides to cut interest rates. This could happen if inflation percentages drop to under 3% and down to around 2%. 🤔💡

So, keep your eyes on Bitcoin, folks! It's an exciting time in the crypto world. 🌍💫🚀