A trader known as James Wynn on the Hyperliquid platform incurred losses of nearly $100 million after his long positions on Bitcoin were liquidated when the price fell below $105,000.
Wynn had opened two major positions with high leverage on Bitcoin
BTC
$105,677
expecting the price to rise, but on-chain data shows that those positions were liquidated for a total of $99.3 million on May 30, after the price of Bitcoin dropped to its lowest level in 10 days.
The first position, sized at 527.29 Bitcoin worth $55.3 million, was liquidated when the price of Bitcoin reached $104,950, while the second position of 421.8 Bitcoin worth $43.9 million was closed when the price dropped to $104,150, according to the Hypurrscan analytics platform for Hyperliquid.
On May 29, another position of Wynn sized at 94 Bitcoin worth $10 million was liquidated at a price of $106,330.
With a total of 949 Bitcoin liquidated, both Arkham Intelligence and Lookonchain indicated that Wynn lost around $100 million over the past week.
