Leading Crypto Trader Loses Big, What’s Next?

Jakarta, Pintu News – Prominent trader, James Wynn, recently closed a long Bitcoin position at a significant loss. According to data from Lookonchain, Wynn had accumulated long positions worth $1.25 billion. However, after closing these positions, he suffered a loss of $13.4 million. A 1.3% drop in the price of Bitcoin (BTC) on the Hyperliquid platform after the closure of these large positions added to the trader’s woes.

Price Movements and Their Impact

Wynn’s closing of long positions has had a direct impact on the price of Bitcoin (BTC), which is now trading at $107,342. The cryptocurrency has fallen more than 4% from its all-time high reached on May 22, which was $112,000. This decline suggests that the market is currently still in the control of the bears, or market participants who expect a drop in prices.

This drop has not only affected Bitcoin (BTC) but also created a more cautious mood among investors and traders across the crypto market. With the market seemingly going to continue to be under pressure, many are questioning the next steps that big market players like Wynn will take.

Also Read: Astonishing Prediction: Bitcoin Will Break $250,000, Really?

Strategy Transition: From Bullish to Bearish

After closing his long positions, Wynn switched strategies to become bearish on Bitcoin (BTC). He has now opened a short position worth $112 million. This short position will be liquidated if the price of Bitcoin (BTC) rises to $149,100, a scenario that is considered highly unlikely in the short term.

This change in strategy shows Wynn’s adaptation to changing market conditions. By going short, Wynn seems to be trying to capitalize on the potential for further price declines. It’s a risky move, but it could also be very profitable if the market continues to move in line with bearish predictions.

Altcoin Performance and Market Liquidation

Before focusing on Bitcoin (BTC), Wynn also closed his long position on Pepe Coin with a huge profit of $25 million. However, he incurred a $5.3 million loss from closing long positions on Ethereum and Sui . Nonetheless, the profits from Pepe Coin (PEPE) managed to partially cover those losses.

Data from CoinGlass shows that around $212 million worth of crypto assets have been liquidated in the last 24 hours, with long positions accounting for the majority, at $169 million. This information confirms that market volatility is still high, and traders should be cautious about taking positions in this volatile market.

Cover: The Future of the Crypto Market

With market conditions constantly fluctuating, the future of Bitcoin (BTC) and other cryptocurrencies remains uncertain. Traders and investors must constantly monitor market movements and adjust their strategies according to the changing conditions. For Wynn, the next step may be decisive in his trading career, especially if the crypto market continues to exhibit high volatility.

Also Read: XRP Ledger Activity Decline Reaches 90%: What’s the Impact?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• U.Today. Top Trader Closes Bitcoin Long with Enormous Loss. Accessed on May 26, 2025
• Featured Image: The image created by AI