This is a long and short Bitcoin worth billions of dollars

While James Wynn has gained significant attention for being among the top five traders on the Hyperliquid platform in terms of profit and loss, his latest trades attracted even more attention. Last week, the cryptocurrency trader stunned the community by opening a long position worth $1.2 billion, with 40 times leverage. With a close liquidation price of $105,179, this position seemed fraught with risk, and with the volatility of Bitcoin's price, the profit and loss of this position fluctuated.

As the price of Bitcoin declined as the weekend approached, the trader closed his long position of $1 billion with a loss of $13.4 million. After that, James Wynn quickly changed course and placed another position of $1 billion, but this time with a falling Bitcoin price.