🐋 James Wynn closes $1.25 billion long on BTC with a loss of $13.4 million
One of the largest crypto traders, James Wynn, has closed his record-long position on the Hyperliquid platform. Using 40x leverage, he held a position of 11 588 $BTC worth $1.25 billion. However, after market fluctuations caused by news of 50% import tariffs from the EU, he incurred a loss of $13.4 million.
Wynn confirmed the closure of the position on the social network X, writing: "Cut my losses." Previously, he had already booked a profit of $400 million, but the subsequent increase in position led to losses.
📉 What does this mean for the market?
The closure of such a large position could impact the liquidity and volatility of BTC.
This event highlights the risks associated with high leverage.
Traders should closely monitor the actions of major players and consider the potential consequences for the market.
