Venture trader James Wynn just opened a 40x leveraged Short position on Bitcoin (BTC) , betting on a market crash amid a strong bull market.
Wynn’s bold Short order comes amid widespread optimism among investors. Many crypto “whales” are expanding large Longing positions in Bitcoin, Ethereum (ETH) and other assets, expressing strong confidence that the market will continue to grow.
James Wynn goes against the market trend
According to BeInCrypto, the US CPI for September was lower than expected, triggering a strong recovery in Bitcoin and the entire crypto market.
As inflation cools, investors turn their attention to the US Federal Reserve's interest rate decision this week, with the high possibility that the Fed will cut interest rates by 0.25% .
The impact of this has been evident in the crypto market. Over the past five days, the total cryptocurrency market Capital has increased by more than 7% , with Bitcoin surpassing $115,000 and Ethereum surpassing $4,000 .
This euphoria has led many large traders and institutions to open Longing positions to catch the next rally. However, Wynn chose the opposite direction.
According to Lookonchain , on October 27 , Wynn received 1,854.54 USDC from the referral reward, then opened a Short position of 0.96 BTC (worth more than $110,000 ) on the Hyperliquid exchange with 40x leverage .
The latest data from Hyperdash shows Wynn currently has an unrealized profit of $661.38 , with a liquidation price of $117,468 .
Loss History and Risk Strategy
While Wynn’s current position is slightly profitable, he has a history of heavy losses . He lost more than $22 million in highly leveraged positions that were liquidated, with a win rate of just 33.33% .
Previously, BeInCrypto reported that Wynn had lost over $100 million trading on Hyperliquid , yet he continued to execute extremely high-risk orders.
Still, sources close to Wynn say he has made more than $250 million in the past two weeks through undisclosed strategies.
“I have a source close to @JamesWynnReal who says he has made over $250 million in the last two weeks. Everything he posts on X is a psychological ploy. He is playing chess while everyone else is playing checkers,” — a market observer Chia .
Notably, Wynn also hinted that he is trading with a new anonymous account and will make that account's identity public soon .
“Let's start over — publicly. The new account I'm trading with will be revealed soon,” he wrote.
The war with the "Bull" side
Meanwhile, Wynn continued to publicly criticize optimistic investors . He called wallet 0xc2a3 a “ delusional bull ” for continuously adding to Longing BTC and ETH positions.
Wynn scoffed at the man's claimed 100% win rate as “ irrational ,” and attributed that confidence to macro factors like the Fed's upcoming decision or the US-China trade deal .
“This is a DELIBERATE Bull . He keeps adding to ETH and BTC Longing . Why? FOMC? LOL. DEAL WITH CHINA? LOL. Whales with money have a dangerous addiction to leverage. Extremely risky game,” Wynn wrote.
Data from Hyperdash shows that wallet 0xc2a3 currently holds 1,682.83 BTC ($94.39 million) and 40,304 ETH ($168.15 million) in Longing positions, with realized profits of over $17 million — in stark contrast to Wynn’s risky position.
As Bitcoin's rally continues and Short get squeezed, the question is: Is this a James Wynn comeback, or just another epic crash waiting to happen?
The answer will soon be revealed by the market in the coming days.
