Bitcoin Whale Faces $660,000 Loss Due to High-Leverage Trade

A prominent Bitcoin trader, James Wynn, stands at risk of significant financial loss due to a high-leverage trade that could trigger liquidation. Wynn’s position on Bitcoin carries a 40x leverage, significantly amplifying both profits and losses. The current market price of Bitcoin near $103,340 poses immediate pressure on his leveraged positions, with his long order totaling over $54 million currently valued at approximately $105,554.50. This loss could trigger liquidation, impacting Wynn’s substantial involvement in the cryptocurrency market.