Despite suffering an almost $100 million loss last week, prominent crypto trader James Wynn is back in the game, aggressively betting on Bitcoin with a 40x leverage position worth over $99.7 million. Following a recent profit of over $1 million from selling HYPE tokens, he’s now taken a new long position in Bitcoin after liquidating some of his earlier holdings and facing significant losses.
Wynn’s recent trades reflect his aggressive approach, starting with accumulating a high-leverage position on Pepe (PEPE), Trump (TRUMP), and Fartcoin (FARTCOIN) tokens before venturing into Bitcoin. He initially saw profits ranging from $23.8 million to $4.48 million, but faced a major reversal as his largest $1.14 billion BTC long dropped over $13 million within hours.
Following a short-lived rebound with a $1 billion Bitcoin short position, Wynn ultimately lost almost another $15.87 million before liquidating his losses and suffering a significant net loss of -$12 million in seven days.
Undeterred by these setbacks, Wynn recently opened a new 945 BTC long position, leveraging an initial margin of over $2.17 million and a liquidation price below $104,500. This move, along with a call for support from his followers to purchase Bitcoin, suggests he believes that other traders are being targeted by crypto whales. He has publicly stated his suspicion regarding a potential agenda targeting his positions.