Trader Doubles Down on Bitcoin with $100 Million Bet Despite Losses

James Wynn, a high-risk Bitcoin trader known for his aggressive bets, has once again taken a massive gamble by placing a second $100 million leveraged bet on the cryptocurrency. This follows a previous loss of the same size, which saw him liquidate his original position of 945 BTC and incur an unrealized loss exceeding $677,000. Undeterred, Wynn has added more margin to strengthen his position, now with a total capital at risk near $3 million. Wynn claims that market makers are deliberately suppressing the price of Bitcoin to force his liquidation, using manipulative tactics to target his positions. Notably, cryptocurrency personality Altcoin Gordon echoed these claims, pointing out the immediate decline in BTC prices following Wynn’s re-entry into the market.