Bitcoin Whale Nets $11.6M Profit as Prices Surge Past $81K

A large Bitcoin holder has closed out a two-month position, netting a profit of $11.6 million after selling at an average price of around $81,000. This move coincided with a massive rally driven by short liquidations and optimism over US Treasury bond buybacks.

The trader's exit was likely a result of the strong gains made by Bitcoin in recent weeks, which has seen it rise from around $58,000 to above $81,000.

Market watchers will be closely monitoring if the $80,000 level holds as support or if profit-taking pressures push prices down in the coming days.