Two crypto wallets that on-chain analytics firm Lookonchain believes belong to the same trader closed out nearly two-month-old Bitcoin long positions, walking away with a combined $11.6 million in profit. The exit, flagged within an hour of happening, lands as bitcoin trades within striking distance of the $80,000 mark it has not held since May.
"Two wallets(possibly belonging to the same whale) closed their $BTC longs 1 hour ago after holding them for nearly 2 months, making a $11.6M profit," Lookonchain reported.
A Two-Month Hold Pays Off Near the Highs
The wallets in question — 0x5FA92137445B8cAA21a85a4B69156B7Fc40C3C83 and 0x237152b038d88f4156a0cd71090462de7e3f0883 — opened their long exposure roughly two months ago, when bitcoin was trading in the low-$60,000s. PANews independently confirmed the closure, flagging it as a notable move in its own wire coverage of the trade. Holding through that stretch meant riding out a choppy summer before bitcoin's sharpest rally in years carried it from the low-$60,000 range to nearly $80,000 in a matter of days, a roughly 22% weekly gain that has traders watching whether the next leg clears the psychological $80,000 level.
What the Exit Says About Positioning Near $80K
Whale-wallet closures like this one are watched closely because they tend to cluster around technical inflection points rather than random dates. Locking in profit just under a multi-month resistance level is a classic de-risking move — it doesn't necessarily signal a reversal call, but it does show at least one large, patient holder treating the approach to $80,000 as a natural point to take chips off the table rather than press the position further. With US spot Bitcoin ETF buying, a wave of short liquidations, and improving sentiment all cited as drivers of the current rally, sizable long exits also thin out some of the leveraged length that could otherwise fuel a sharper pullback if momentum stalls.
Related: Bitcoin Nears $80K as Glassnode Flags a 'Tactical' Not Fundamental Rally
Next Levels to Watch
With bitcoin hovering just below $80,000, the next real test is whether spot buying pressure is strong enough to clear that round-number resistance outright or whether profit-taking from large holders — like the pair tracked here — caps the advance in the near term. A confirmed close above $80,000 would put bitcoin at its highest level since May and reopen the conversation about a retest of prior all-time highs; failure to hold the current range would put the low-$70,000s back in play as a support zone traders will be watching in the coming sessions.
