#TradingMistakes101

Key Events Leading to Liquidation:*

- *Initial Profit*: Wynn's account soared to $100 million, with unrealized profits reaching $85 million at one point.

- *High-Leverage Bets*: He took massive, high-leverage positions in Bitcoin (BTC), PEPE memecoins, and other tokens, drawing attention from crypto enthusiasts worldwide.

- *Downfall*: A colossal $1.25 billion long bet on Bitcoin collapsed as prices slid below $105,000, amid mounting geopolitical tensions, draining over $37 million including fees.

- *Liquidation*: Wynn's positions were liquidated for $16.14 million after Bitcoin's price dipped below his liquidation threshold, with 379 BTC lost on Hyperliquid using 40x leverage.² ³ ⁴