James Wynn, a crypto trader who shares his trades on platform X (formerly known as Twitter), quickly gained widespread fame after his large Bitcoin trades went viral. So far, James has opened several trades worth billions of dollars and has built a large following thanks to his outstanding win rate. He has also achieved gains exceeding 8 figures. Two of his recent trades have drawn attention, and this report looks at how the trader manages these trades.
■ Long and short Bitcoin positions worth billions of dollars
While James Wynn gained significant attention for being among the top five traders on the Hyperliquid platform in terms of profit and loss, his latest trades garnered even more interest. Last week, the crypto trader astonished the community by opening a long position worth 1.2 billion dollars, with 40x leverage. With a close liquidation price of 105,179 dollars, this position seemed risky, and with the volatility of the Bitcoin price, the profit and loss of this position fluctuated.
As the price of Bitcoin fell with the weekend approaching, the trader closed his long position of one billion dollars with a loss of 13.4 million dollars. After that, James Wynn quickly changed his course and placed another position of one billion dollars, but this time with a decrease in the price of Bitcoin.
At an entry price slightly above 107 dollars, this was a fateful decision for the trader as the price of Bitcoin began to rise. Once again, Wynn had to close his massive position, resulting in a staggering loss of 15.87 million dollars. Overall, the 'Burb' trader lost nearly 28 million dollars within 24 hours, according to Hyperliquid data.
■What’s next for James Wynn?
After closing his short position, James Wynn turned to X (formerly known as Twitter) to address the situation. He explained in his post that after the heavy losses, he is considering stopping trading in 'Burb'. He also revealed that despite the losses, he is still up 25 million dollars after starting with an initial position of 3-4 million dollars.
