Top Trader’s Bitcoin Blunder: A Tale of Loss and Liquidation 😂

by

According to the ever-reliable Lookonchain, top trader James Wynn decided to close his entire long position on Sunday. The trader, known for his bold moves, had amassed a staggering $1.25 billion worth of long positions. After the dust settled, Wynn found himself $13.4 million lighter. A small price to pay for the thrill, one might say. 🤑

Interestingly, the price of Bitcoin dipped by 1.3% on the Hyperliquid platform after the whale closed his massive position. At press time, the leading cryptocurrency is trading at $107,342, a far cry from its recent all-time high of $112,000, reached on May 22. A 4% drop, but who’s counting? 🤷‍♂️

Altcoin Adventures

Before his Bitcoin misadventure, Wynn had a bit of luck with Pepe (PEPE), closing his long positions and securing a massive profit of $25 million. However, on Saturday, he also closed his long positions on Ethereum (ETH) and Sui (SUI), logging a loss of $5.3 million. It seems even the best of us have our off days. 😅

Flipping Bearish

After closing the recent long, Wynn has now flipped bearish on Bitcoin, opening a short position of $112 million. If the Bitcoin price surges to $149,100, Wynn will be liquidated. But let’s be real, that’s about as likely as finding a unicorn in a crypto wallet. 🦄

Recent Liquidations

Data from CoinGlass reveals that roughly $212 million worth of crypto has been liquidated over the past 24 hours. Long positions, as expected, account for the vast majority of this sum ($169 million). The leading cryptocurrency seems to be teetering on the edge of dipping below the $107,000 level, suggesting that the bears are still in control. For now, at least. 🐻

Read More

2025-05-25 12:18