Pro‐trader James Wynn recently posted on X (formerly Twitter) that “Market Makers have dumped $BTC.” He claims that large institutions are rotating capital out of Bitcoin, which is causing leveraged BTC longs to implode, leading to the price decline. In the last 24 hours, Bitcoin has declined over 2.5% and is trading around $115,650 levels. Wynn suggests that this has “Created panic amongst long leverage traders…and right now they are buying your alts”
Since hitting an all-time high of ~$122,838, recorded on July 14, Bitcoin has seen a few downruns. It is amid these swings that altcoins like PEPE, DOGE and SUI have seen episodic rallies. Wynn suggests this rotation reflects a short‑term switch, where market makers may be pushing BTC down. This is happening via liquidation cascades, which will trigger weak longs, and also spur buying altcoins while they’re cheap.
He expects broader altcoin rallies only after Bitcoin breaks new highs. Only then, he believes that dominant capital rotation will amplify alt performance. Until then, he says the shift is speculative, and when there is a dump, altcoin will get dumped harder, but that hasn’t happened yet.
Wynn’s track record: Big wins, epic losses
Known for his extreme high-leverage trades, Wynn has both profited and suffered due to his trading positions. On July 17, just days after BTC hit ATH, Wynn booked $473,900 in profit within 24 hours by shorting BTC and HYPE at high leverage ($117K–$119K BTC range). Previously, he opened a $19.5 million 40×‐leveraged BTC long (and ~$100K PEPE long), earning modest gains but also paying ~$1.4 million in funding fees. The position faced liquidation risk when BTC was near ~$115,750 levels.
In May 2025, Wynn was liquidated on a $1.25 billion BTC long at 40× leverage when BTC dipped just below his ~$105K threshold. This resulted in losses nearing $100 million. More recently, Wynn closed leveraged DOGE, PEPE, and BTC trades with a combined $625,222 loss
Wynn himself says he’s not a professional and calls his style “gambling”. He admits he doesn’t use proper risk management and warns others not to copy him.