Top crypto trader James Wynn’s recent actions have sparked speculation about the future of Bitcoin price. After predicting a surge to $118,000, Wynn executed large short positions and exited profits, suggesting a shift towards bearish expectations. 2,139 BTC from his previous position were closed, signaling profit-taking. This coincides with another whale executing a sizable short position, adding further evidence of growing bearish sentiment. The recent price decline of Bitcoin to $106,500 after peaking near $108,500 could reinforce this trend. However, Wynn still holds a long position worth $600 million, indicating a cautious bullish outlook. The open interest in derivatives has surged past $74 billion, highlighting market confidence. But rising open interest also increases the risk of liquidation events, where sudden shifts in price can trigger massive sell-offs and put further pressure on Bitcoin’s prices. Meanwhile, institutional inflows, including Bitcoin ETFs acquiring over $1 billion worth of cryptocurrency, suggest continued demand despite shorting activity. The potential for limited downside remains high as long as traders like Wynn hold their optimistic outlook.