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James Wynn's second $100 million bet on Bitcoin: "They are hunting me"
Wynn has asked the cryptocurrency community for donations to help him fight against the "market-making cabal" that he claims is seeking his liquidation.
The multimillionaire cryptocurrency trader James Wynn has opened a second leveraged position in Bitcoin for nearly $100 million, just days after being liquidated from a similar trade.
According to the blockchain data aggregator Hypurrscan, the position will be liquidated if Bitcoin
BTC
€92,455
falls below $103,630 and currently shows an unrealized loss of over $592,000.
The trade comes less than a week after Wynn's previous $100 million position was liquidated on May 30, when BTC briefly fell below a 10-day low of $105,000.
Wynn's bet coincides with the growing caution in the market. The next significant support for Bitcoin remains just above $103,000, as market participants remain in "wait-and-see mode" ahead of the key U.S. unemployment claims report scheduled for June 5, Stella Zlatareva, editor at Nexo, told Cointelegraph.
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