Crypto trader James Wynn, known for high-leverage positions, doubled down on his bearish Bitcoin bets even as the market rallied following signs of the end of the 40-day US government shutdown.
Multiple liquidations hit Wynn
Wynn’s main account on Hyperliquid faced repeated liquidations as Bitcoin recovered, with his wallet dipping to just $5,422 in the past 24 hours, according to Hyperdash data.
The pseudonymous trader experienced 12 liquidations in 12 hours, totaling 45 liquidations over two months, per Lookonchain blockchain analytics.
Prior to the rebound, Wynn had deployed multiple leveraged short positions, essentially betting on Bitcoin BTC$105,959 falling.
Doubling down amid losses
Despite mounting losses, Wynn went “all-in,” transferring all available stablecoin funds to his short positions. He predicted a Bitcoin decline below $92,000, despite optimism surrounding the potential resolution of the US government shutdown.
In the past few hours, I have deployed all stables (30%) + and thrown it all on top of my short positions. No joke. As all-in as I can get,” Wynn wrote on X.
I’m either going to make hundreds of millions from my leverage short positions or I will go bust.
At the time of reporting, Wynn maintained a 40x leveraged short worth $275,000 in Bitcoin. The position is at risk of liquidation if Bitcoin rises above $6,856, with an unrealized loss of $11,147.
Industry “Smart Money” also eyes downside
Other high-performing traders, tracked as “smart money” on Nansen’s blockchain intelligence platform, are similarly positioning for further Bitcoin downside.
Net perpetual short positions on Hyperliquid reached $223 million on Monday, with $5.2 million in new shorts opened within 24 hours, suggesting continued bearish sentiment among professional traders.