High-risk, high-leverage trader James Wynn has initiated a 40x leveraged short on Bitcoin (BTC), betting against the current market surge.
Wynn’s bold short trade comes at a time when optimism is rising among market players. Crypto whales are stacking substantial long positions in BTC, Ethereum (ETH), and more, suggesting widespread bullish confidence in the market’s future trajectory.
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James Wynn Moves Against the Crypto Market
BeInCrypto recently reported that the September US Consumer Price Index (CPI) came in cooler than expected. This triggered a sharp rally in Bitcoin and the broader crypto market.
With inflation easing, investor focus has shifted to this week’s highly anticipated Federal Reserve rate decision. Markets are pricing in a near-certain 0.25% rate cut.
The impact is already visible in the crypto sector. Over the past five days, the total crypto market cap has surged more than 7%. Bitcoin has moved above $115,000, and Ethereum has surpassed the $4,000 mark.
The bullish sentiment has prompted major traders and institutions to increase their exposure, opening substantial long positions across key assets in anticipation of further upside. However, Wynn has taken a contrarian approach.
Lookonchain reported that on October 27, Wynn claimed a referral reward of 1,854.54 USDC. He then opened a 40x leveraged short position on 0.96 BTC, worth over $110,000 on Hyperliquid.
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As of the latest data from Hyperdash, the trader is currently sitting at an unrealized profit of $661.38. The liquidation price is $117,468.
However, that number pales in comparison to his track record of staggering losses. Wynn’s total accumulated losses exceed $22 million from a history of overleveraged trades that went against him.
His win rate is 33.33%. Previously, BeInCrypto reported that Wynn had lost more than $100 million trading on Hyperliquid, yet he continues to take massive, high-risk positions.
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While the losses paint a bleak picture, sources close to Wynn claim he has made over $250 million in profits during the past two weeks through undisclosed strategies.
“I have sources close to @JamesWynnReal that have told me he has made $250,000,000+ in the past two weeks. All of his tweets on X have been a psyop. He is playing chess while you’re all playing checkers,” a market watcher posted.
Notably, Wynn also teased a ‘new account’ under which he has been trading incognito, promising a reveal soon.
“Let’s run it back turbo – public. New account I have been trading under will be revealed soon,” he said.
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Meanwhile, Wynn’s bearish tilt extends to public barbs at bullish counterparts. He labeled wallet 0xc2a3 a ‘delusional bull’ for relentlessly adding to long positions in BTC and ETH.
Wynn mocked the trader’s claimed 100% win rate as ‘impossible’ and attributed the fervor to upcoming macro catalysts like the Fed’s decision or a potential US-China trade deal.
“This is what a DELUSIONAL BULL is. He is relentlessly adding to his ETH and BTC longs. Why? FOMC? LOL .TRADE DEAL WITH CHINA – LOL . Whales with money can have some crazy addictions to perps. Dangerous game,” he remarked.
Hyperdash data showed that 0xc2a3 holds 1,682.83 BTC ($94.39 million) and 40,304 ETH ($168.15 million) in longs, boasting nearly $17 million in realized profits—a stark contrast to Wynn’s precarious setup.
As Bitcoin’s momentum builds and short traders face mounting pressure, the question remains: Is this Wynn’s long-awaited redemption, or another high-profile collapse in the making? The coming days will reveal whether his contrarian gamble pays off or if history repeats itself.
