Bitcoin News
By Dan Saada
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$225 Million in Shorts Gone in Minutes. The rally didn't happen in a vacuum. Bitcoin's move past $80,000 came alongside the liquidation of…
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Is $80K the New Floor — or a Ceiling?. Now the market's watching whether $80,000 holds as support. That's the number everyone's focused on.
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A big trade just closed. A bitcoin trader locked in $11.6 million in profit as bitcoin pushed toward $81,000 on August 25, ending a position held for nearly two months.
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The details came from Lookonchain, a blockchain analytics platform that flagged two specific wallets — tagged 0x5FA and 0x237 — as probably belonging to the same trader.
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The rally didn't happen in a vacuum. Bitcoin's move past $80,000 came alongside the liquidation of $225 million worth of short positions — and that happened fast, within minutes.
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Some larger holders — the kind the market calls "whales" — used the surge to get out. Others went the opposite direction and added to their positions, betting bitcoin has more…
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Before the push to $81,000, bitcoin had briefly dipped below $77,000. It rebounded to an August high of $79,989 before continuing upward.
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See also: Traders Bet $2.9 Million on Bitcoin Surging Past $82,000 Amid Bullish Sentiment
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Some traders are already pointing to the U.S. Treasury's bond buyback program as a potential tailwind.
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What's harder to read is whether the whale exit means anything bigger. It could be a smart tactical decision — take profit near a key level, wait for a pullback, re-enter lower.
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Retail and institutional interest picked up noticeably as bitcoin crossed $80,000. That's not surprising — big round numbers attract attention, and the move got coverage.
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The broader macro picture adds another layer. Quantitative easing concerns, Treasury market dynamics, dollar strength — all of it circles back into bitcoin sentiment eventually.
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For now, bitcoin sits near the top of what's been one of its strongest quarters since 2021, with most of the gains coming in late August.
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More context: Bitcoin Surges as $3 Billion in Short Bets Liquidated, $126K Target Set
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The trader behind 0x5FA and 0x237 walked away with $11.6 million.
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