Bitcoin Whale Takes Profit as Price Surges Past $81,000
A Bitcoin whale closed a two-month long position on August 25, reaping an $11.6 million profit as BTC traded near $81,000.
The transaction involved two wallets, potentially belonging to the same investor, which exited their bitcoin long positions simultaneously.
Bitcoin has surged from $58,000 to above $81,000 in recent times, with some analysts attributing the price action to a rally built on liquidations. According to data, $225 million in short positions were liquidated from the crypto market within 10 minutes, which can easily move prices up.
The exit of this whale adds to profit-taking as traders watch whether bitcoin's price holds at $81,000. With macro voices arguing that Treasury liquidity dynamics could push BTC toward six figures, the coming days will be crucial for the market.