🤗 GM! Why not buy Bitcoin?❔
🎢 Renowned adventurer trader James Wynn has suddenly started shorting Bitcoin using gigantic leverage.
👥 Members of the crypto community were not impressed by Wynn’s trade because its size was small compared to his previous long.
⭕ Most likely, the losses hit James’ pocket so hard that he cannot risk large amounts and therefore takes a more conservative approach.
💸 Wynn is famous for his successful trades in the meme token market, but he has had disastrous luck with BTC. In May, he opened a $1.25 billion long position to buy Bitcoin, but when the coin’s price fell, he had to close it, thus incurring a loss of $99.3 million.
⭕ However, Wynn did not despair and returned to the BTC futures market on June 29, creating a short of $1.49 million with 40x leverage.
😲 This time, James managed to guess the direction of the cryptocurrency rate and earned an unrealized profit of a modest $1,556. However, his position will be liquidated if the digital asset rises in price to at least $108,640, which is quite possible, and even today.
