James Wynn Turns Bullish, Opens Long Position After Bitcoin Breaks $93K Barrier

Jakarta, Pintu News – Veteran crypto trader, James Wynn, is showing early signs of a bullish trend for Bitcoin (BTC) price in the crypto market. He went long (a bet that the price will rise) on the token and stated that a potential breakout is on the horizon.

This step was taken after BTC broke the $93,000 level.

James Wynn Goes Long as Bitcoin Price Breaks Key Resistance

In a post on the X platform, James Wynn revealed that he has reopened a long position on BTC tokens after Bitcoin’s recent price increase.

Read also: 3 Cryptos Highlighted by Analyst Ali Martinez at the Beginning of 2026

Based on the information shared, he now holds a long position of 124.18 BTC with 40x leverage, with the position value estimated to be around $11.5 million. The average entry price for his position is around $91,332, which currently gives him a floating profit of around $211,000.

In addition to Bitcoin holdings, Wynn also has a leveraged position in the PEPE token. This position includes over 364 million tokens with 10x leverage. The overall value of his investment in PEPE is estimated at $2.6 million, and has generated profits of over $590,000.

Wynn’s move comes amid a recovery in Bitcoin prices in early January 2026, as tensions between the United States and Venezuela escalate.

Market watchers are now closely watching how crypto will perform following the arrest of Venezuelan President Maduro. At the time of publication, Bitcoin was showing an upward trend and had reached the $93,000 level in the early hours of trading yesterday.

Based on data from CoinMarketCap, the total crypto market capitalization currently stands at $3.16 trillion, with a daily trading volume of $90 billion as of January 5. The Crypto Fear & Greed Index has also returned to the neutral zone – the first time since October.

In addition, Coinbase Premium Gap showed a significant recovery after falling sharply at the end of last month. This is an indicator that professional market participants are again actively buying, as the selling pressure due to the year-end closing effect ends.

The End of Bitcoin’s Quadrennial Cycle?

Analysts revealed that what happened recently in the crypto market most likely reflects the end of Bitcoin’s four-year cycle.

In an analysis, crypto expert David explained that over time, Bitcoin’s price pattern has increasingly moved towards a power-law pattern, with periods of reduced volatility.

Read also: Mega Bullish Predictions in the Crypto Market This Week: What to Watch Out For?

According to this model, Bitcoin is considered to be in the early stages of a long-term growth phase, rather than in the late stages of a normal cycle. The analysis places Bitcoin’s fair value well above its current price, indicating that the current Bitcoin price is still below trend despite its rise.

David also set a price target of $218,000 for Bitcoin by the end of this year.

This view is reinforced by the significant recovery seen in the spot Bitcoin ETF. Based on data from SoSoValue, the ETF recorded net inflows of $459 million during the period from late December to early January. Most of these flows – more than $320 million – came from BlackRock’s IBIT fund.

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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 have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Veteran Trader James Wynn Turns Bullish, Opens BTC Long as Bitcoin Price Breaks $93K. Accessed on January 6, 2025