James Wynn Liquidated 12 Times in 12 Hours Amid Bitcoin's Leap Over $106K

Bitcoin's value spiked to almost $107,000, negatively impacting over-leveraged traders, particularly famous trader James Wynn, who faced 12 liquidations in 12 hours due to the market rebound, according to data from Lookonchain. Despite suffering 45 liquidations over the past two months, Wynn continued to short bitcoin over the weekend, leading to a loss of over $85,410, leaving his account with only $6,010. This liquidation happened as Bitcoin's value surged following an announcement by the US President about potential dividends for Americans, which might result in a surge in cryptocurrency investments. The rise in Bitcoin's price also led to significant gains for altcoins such as WLFI, PUMP, ZEC, and UNI. CoinGlass reports that total liquidations for the day have reached $360 million, with over 120,000 traders affected.