$300M Bitcoin Leveraged Bet: Wynn Involved?
$300 Million Bitcoin Long Position Fuels Speculation
A significant $300 million leveraged long Bitcoin (BTC) position has been opened by an unidentified investor, igniting speculation within the crypto community. Data from Hypurrscan reveals a 20x leveraged bet entered at a price of $108,100 per BTC. The position currently shows an unrealized profit exceeding $4 million, but faces liquidation if BTC falls below $105,780.
James Wynn's Potential Involvement?
The trade has reignited discussion around James Wynn, a prominent leverage trader who recently experienced a $25 million loss due to a liquidation. Wynn has publicly announced a return to trading under an anonymous account, further fueling the speculation.
Onchain Lens, a blockchain analytics platform, has also suggested that Wynn may be behind the massive $300 million long position. Wynn’s own June 10th X post stating "I’m back in the casino under an alt account" adds to the intrigue.
Wynn's Previous High-Stakes Trades
Wynn's prior experiences include a $100 million leveraged Bitcoin bet, where he publicly claimed that market makers were targeting his liquidation level. He expressed concerns about his accounts being closed on various cryptocurrency exchanges.
Institutional Interest and Market Sentiment
This large leveraged bet coincides with positive indicators for Bitcoin. Stella Zlatareva, Nexo dispatch editor, noted a "wave of institutional breakthroughs," citing Strategy's upsized $1 billion stock offering to fund BTC purchases. Furthermore, spot Bitcoin ETFs saw significant net inflows on June 9th, totaling $386 million, according to Farside Investors data.
These positive trends have led some experts to predict Bitcoin surpassing $200,000 by the end of 2025.
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