Top trader James Wynn is in the news again. Just two hours after declaring a break from perpetual futures trading, the trader has reentered the market with an aggressive 40x Bitcoin long position.
The recent stake is worth 944.93 BTC, which is about $99.6 million. Its opening entry is $105,890.3, and its liquidation is $104,580. Wynn has an unrealized loss of about $455,000 with this option contract currently.
Started Selling $HYPE but Quickly Put it All on Bitcoin
After leaving a risky trade, James Wynn has gone back to trading perpetuals. Slightly more than two hours earlier, he decided to sell all his HYPE for a payout of $4.13 million, an average of $32.72 per HYPE. The payout came after his HYPE purchases made on May 9 and May 12, with each token bought on average for $24.84, which came out to $3.13 million.Â
Wynn’s move netted him a $1 million profit, which included a 31.9% increase in his venture capital, and he quickly turned that into more USDC with profits from Hyperliquid.
Breaking Down the Bitcoin Position
Bidding for almost $100 million in debt, James Wynn seems as willing to take risks as he was before receiving significant rewards from HYPE.Â
The price of Bitcoin at the time was around $105,000–$107,000 as volatility increased across the market. Despite the risky nature of the position, Wynn’s significant presence has attracted interest from both institutions and retail users.
How the Market Reacts to James Wynn
As a result of James Wynn’s step back, people are now discussing the risky and dramatic nature of high-debt transactions. Certain experts applaud how he rapidly makes millions and then shifts capital, while other experts warn these practices can spark significant losses and instability in pricing.Â
Looking Ahead—Time to Play with Big Risks
Already facing an unrealized loss, and since crypto prices can easily go up or down, Wynn’s decision to back Bitcoin might result in a very risky situation. It is not yet clear whether his timing will result in success or in problems.
Currently, Wynn’s rise demonstrates why those willing to handle extreme risk find cryptocurrency appealing. Crypto traders wonder if Wynn’s bet on crypto will continue to be a disappointment just like his previous trades.
