Hyperliquid Trader Loses Nearly $100 Million in Bitcoin Liquidation

A prominent cryptocurrency trader on the platform Hyperliquid, known as James Wynn, has experienced substantial losses after Bitcoin prices fell below $105,000. Wynn’s leveraged long positions on Bitcoin were liquidated for almost $100 million on May 30, following a significant price drop. Analysts suggest that expanding DeFi applications and increased institutional investment have been key factors behind this surge in Bitcoin’s price before the decline.