HYPERLIQUID WHALE BETS $1B AGAINST BITCOIN WITH 40X LEVERAGE

- Hyperliquid trader, known as James Wynn or “moonpig,” opened a $1 billion short position on Bitcoin, using 40x leverage, putting nearly $50 million of his own capital at risk.

- Hours before, Wynn closed a $1.2 billion long position, which cost him $17.5 million in unrealized profits.

- That long had him betting BTC would hit $110K on Saturday. Instead, Bitcoin barely shifted — moving from $107,300 to around $108,000.

- Regarding the recent short bet, if Bitcoin climbs to $110,446 and Wynn doesn’t add more collateral, his position faces liquidation.

- Despite the losses from the closed long, Wynn’s overall profit on Hyperliquid remains above $40 million.

A U Turn:

- Just a few days ago, Wynn predicted Bitcoin could surge to $121K. Now, he’s betting on a pullback.

- Wynn highlighted factors like low trading volumes, an oversold 4-hour chart, and a weak 50-day moving average to justify his bearish stance.

- He even challenged followers on X (Twitter) to convince him otherwise with solid charts.

- There’s also growing speculation that Wynn’s massive short is designed to shake out overconfident longs, setting the stage for a re-entry at lower prices.

- However, experts like CrediBULL Crypto openly bet against Wynn, viewing his high-risk moves with caution.