According to a post by blockchain analytics firm Lookonchain, popular crypto trader James Wynn has reopened the same long position on Bitcoin, which in the previous month caused him huge losses.
Earlier in the day, James Wynn announced via an X post dated June 2nd, 2025, that he would be giving perpetual trading a break in light of massive losses in his trading position.
Perpetual future derivatives allow traders to go long or short on any crypto-asset without any expiry date. Traders can add leverage to these positions, increasing their potential returns, but also with heightened risk attached to the position.
“Giving up was never in the plan Wynn but you have to change your strategy,” replied X user BRaNnY.SOL to the post.
Wynn’s decision comes after he was forced to liquidate a huge position on BTC. During the price boom in May, James Wynn went long on Bitcoin, keeping a $1.25 billion position open with 40x leverage. The liquidation price was set at $105,179, and the trading position was on Hyperliquid as reported by CCN.
Donald Trump’s announcement of Tariffs affected the crypto market, sending it into a slump. The price of Bitcoin dipped below the threshold level, and James Wynn’s position was closed out, roughly around 949 BTC valued at 99.3 million.
James Wynn regularly posts on his account, letting people know of his trading positions and ongoing dealings with exchanges. He usually speculates on memecoins, one of his notable winning investments being when he bought into PEPE coin early and exited with a profit.
James Wynn took to X on May 30th, 2025, to talk about his position in the perpetual market.
James Wynn said he grew his trading position from $4 million to $100 million before dipping to negative $13 million.
“The perp’s casino was fun. Zero regrets. Flipping $4m to $100m and back down to -$13m is one hell of a thrill. Hope many of you enjoyed it as much as I did.” read the post.
Blockchain analytics firm Lookonchain noted that James Wynn continues to make adjustments to his crypto portfolio, having just closed out one for gains. He unstaked 126,116 $HYPE and sold all of it at a price of $32.7, making a profit of $1.05 million after buying these tokens at lower prices.
