Hold onto your hats, folks! Just when you thought Bitcoin was about to soar into the stratosphere, crypto trader James Wynn decided to throw a plot twist worthy of a daytime soap opera. Over the weekend, he flipped from riding the bullish wave — closing a staggering $1.25 billion long position with a $13.4 million loss, no less — to taking a bearish stance. Yes, you read that right: a giant short worth $111 million on 1,038.7 BTC at a price tag of $107,711.1. Because nothing says confidence like doubling down with hyper-leverage on a rollercoaster, right? 🎢
This sudden stance shift by Wynn, who’s currently wielding 40x leverage on Hyperliquid (because who needs sleep or stability?), has set off the crypto community’s gossip mills. His new short, with a liquidation price at a jaw-dropping $149,100, is sitting pretty with a cool profit of $544,000 at the moment—chances are, he’s feeling quite smug, and rightly so. 🤑
So, what prompted this dramatic flip? Well, it’s not just the thrill of the game—politics played a part, with Donald Trump’s recent announcement of a 50% tariff on Europe adding fuel to the fire. Meanwhile, the blockchain detectives have spotted a frenzy of dormant Bitcoin (those long-quiet holdings from 5-7 years ago) suddenly waking up, potentially pressuring prices lower—and Wynn’s newfound bearish outlook seems to align with this sneaky activity.
Wynn’s moves aren’t just for show; top traders and market chatterers are watching every swing like it’s the season finale of a blockbuster series. Just the day before, Wynn had closed his 11,588 BTC long—contributing to a 1.3% dip in prices—because, of course, shutting down a large position causes ripples.
Meanwhile, some optimistic forecasts still linger, like Fundstrat’s Tom Lee promising Bitcoin could hit $250,000 by year’s end. But Wynn’s daring short—like a gambler pushing his chips to the middle—adds a layer of tension that keeps everyone on the edge of their seat. With the Bitcoin long/short ratio just north of parity at 1.0375, it’s clear this is high-stakes poker, and nobody knows for sure who’ll be holding the winning hand next. ♠️♥️
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2025-05-25 14:45