A Bitcoin whale recently closed a short position worth over $516 million, realizing a profit of approximately $9.4 million in just eight days. This action followed a lower-than-expected Consumer Price Index (CPI) reading, which has contributed to optimism in the Bitcoin market by alleviating concerns over monetary inflation. The whale opened the initial short position at $368 million and managed to close it after Bitcoin's price fell, despite facing challenges from other traders attempting to liquidate the position. Following the profitable closure of the short, the whale began purchasing Ethereum, acquiring more than 3,200 ETH for over $6.1 million. Market sentiments shifted ahead of the upcoming Federal Open Market Committee (FOMC) meeting, where potential changes to monetary policy could significantly affect the crypto market. Analysts suggest that Bitcoin's price stability will rely on whether it can maintain support at $81,000, as any downturn could lead to further corrections.

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