James Wynn, a prominent figure in the crypto trading world, has significantly increased his Bitcoin long position, now holding 7,227 $BTC valued at approximately $790 million. His latest move places his liquidation level precariously close at $107,580, underscoring the high-risk nature of his trading strategy. Wynn's target remains ambitious, with eyes set on Bitcoin reaching the $110,000 level.
This bold step follows a turbulent week in which Wynn experienced a substantial drawdown of $60 million across various positions. Despite the setbacks, Wynn's aggressive approach reflects the same risk tolerance and trading acumen that have made him a well-known figure among both retail and institutional traders.
A Week of High-Stakes Trading
Wynn’s volatile trading journey began on May 19, when he opened a 40x leveraged long position on 5,520 BTC at an entry price of $103,302. This initial position placed his liquidation level just below $98,300, highlighting the razor-thin margin for error. On May 20, Wynn expanded his exposure, increasing the position to 7,764 BTC at an adjusted entry of $105,033, with the new liquidation level set at $100,330. Each market fluctuation in the opposite direction brought him closer to liquidation, amplifying the tension.
By May 21, Wynn had further increased his position to 9,371 BTC, exceeding $1 billion in market value. Unrealized profits reached as high as $10.7 million, before he partially closed the position later that day, selling 2,139 BTC and securing nearly $12 million in gains. This reduced his position to 5,203 BTC, valued at over $550 million.
However, Wynn's appetite for risk remained undiminished. On May 22, he entered another substantial long of 10,200 BTC at $108,065. As Bitcoin’s price briefly surged to $111,900, his paper profits soared to $39 million. Yet, the rally was short-lived—a 4% market correction on May 23, triggered by geopolitical news surrounding Trump’s EU tariff policy, sent Bitcoin down to $106,700.
From Gains to Drawdown
Undeterred, Wynn increased his BTC long to 11,588 BTC at an average entry of $108,243, moving his liquidation level to $105,180. This aggressive strategy backfired as the market moved against him, forcing an exit on May 25 at $107,746, resulting in a $13.39 million loss.
Wynn then pivoted sharply, opening a short position of 7,967 BTC valued at $856 million. However, this trade also proved unfavorable. By May 26, he had closed over $1 billion in shorts, incurring a $15.87 million loss in just 15 hours. Additional losses across Ethereum and other assets compounded his total weekly drawdown to $60 million.
Despite the volatility, Wynn maintained a confident stance. In a May 26 post, he acknowledged the losses but noted that his account still held a $25 million net profit, having started with an initial balance of only $3–4 million. At his peak, Wynn’s profits reportedly reached $87 million.
A New Chapter: Back in the Market
Now, Wynn is once again making bold moves. His latest position—a long of 7,227 BTC at $110,084, worth approximately $790 million—places his liquidation level at $107,580. This tight margin leaves little room for error. If successful, Wynn could reclaim legendary status among traders. However, if the market turns against him, the potential losses could be severe.
As the crypto markets continue to evolve, all eyes remain on James Wynn—watching to see if his high-risk strategy will once again yield outsized rewards or lead to another significant setback.