$BTC James Wynn's High-Stakes BTC Trades Amid Market Volatility

James Wynn made headlines after closing his record-breaking $1.1 billion long position on Bitcoin yesterday. Following the closure, he opened a $1 billion short position, which he subsequently closed and re-entered, shifting to a long position valued at $790 million.

Despite low weekend liquidity, the sale of 10,500 BTC caused only a modest price drop of approximately $1,000, executed in under an hour. Wynn explained his position adjustments as a response to what he interpreted as a developing “golden cross” on BTC’s chart—a bullish technical indicator. He noted that such a pattern is often preceded by a short-term correction, potentially shaking out long positions before a fresh upward move. He suggested BTC could dip to the $98K–$100K range before resuming its climb.

On May 23, Wynn's unrealized profits peaked at $87 million. However, by the time he closed that trade, he had incurred a loss of approximately $17.5 million. Despite this setback, his net gain since March 19 stood at $40.5 million.

Later, he opened another $1 billion short on BTC at an entry price of $107,077. This position was closed last night at a $15.87 million loss. Overall, this brought his net result to a loss of roughly $44 million. Wynn subsequently withdrew $24 million from his account, leaving $1 million in play.

In the broader market, news broke overnight that former President Trump would postpone EU tariff enforcement from June 1 to July 9—an announcement that lifted market sentiment.

Today, Wynn re-entered the market with a fresh BTC long, depositing funds and gradually building a $790 million position. As of now, the position is sitting at an unrealized loss of around $5 million.

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