#WhaleJamesWynnWatch James Wynn is making a U-turn with his Bitcoin gamble. After closing his $1.2B BTC long position, he opened a massive Bitcoin short position of $110.8 Million. As per latest report he is further adding to his short position with currently $1 Billion in BTC shorts and liquidation set at $110,450.

James Wynn Bets Against A Bitcoin Rally With $856 Million Short

Earlier today James Wynn turned bearish with a $111.8 million short position on 1,038 BTC hours after closing his previous long position. According to an X post by Whale Insider, the Hyperliquid high-risk trader faces liquidation at $149,1000 with a 40X leverage.

The perpetual futures trade follows the closing of a $1.2 billion Bitcoin long position over the weekend. James Wynn faced liquidation at $105K, with experts like CrediBULL Crypto betting against the high-risk trader.

Barely 24 hours ago, James Wynn predicted Bitcoin price to climb as high as $121,000, setting a new all-time high this week. However, the new short position signals a changing stance by James Wynn, with the cryptoverse keen on wrapping their head around the move.

Latest reports show that James Wynn is increasing his short position, raising the stakes in a massive gamble. His short position has risen to a staggering $1 billion on $9,402 BTC with a liquidation price of $110,450. Consequently, James Wynn is betting against a near-term BTC rally given his aggressive short position.

James Wynn’s aggressive bet indicates belief in a near-term Bitcoin correction after an impressive run. At the moment, Bitcoin is trading at just under the $107K mark, down by 4.5% since setting its all-time high.

The steady decline could result in steep profits for James Wynn, but the threat of a short squeeze hangs uneasily over the short position.