Hyperliquid Bitcoin Whale loses $100,000 if BTC prices fall below $105,000

This week, one of Crypto’s biggest stories was deployed as a prominent trader on a high lipid dispersive exchange known as James Wynn, and nearly $100 million in the leveraged Bitcoin position was liquidated after BTC’s price fell below $105,000. The Swift Market’s slump was partly driven by the announcement of new tariffs from the US, wiping away a massive bet that had previously surged unrealized profits to $100 million.

Winn, who had attracted attention due to his aggressive trading style and previous success, placed a series of highly leveraged long positions in Bitcoin, controlling exposures of over $1 billion at one point, and responsible for just $20 million with 40 times the leverage of the witness. The value of his position swelled as Bitcoin prices skyrocketed, but market volatility quickly opposed him.

On May 30th, Bitcoin price fell below $105,000, leading to a cascade of liquidation. Wynn’s two largest positions, 527.29 BTC ($55.3 million) and 421.8 BTC ($43.9 million), were liquidated as prices reached $104,950 and $104,150, respectively, according to on-chain data. In total, 949 BTC, worth around $99.3 million, was wiped out in a few hours. Previously, on May 29, an additional 94 BTC ($10 million) position was liquidated at $106,330.

Despite Hercules’ loss, Winn seemed to be innocent and took him to X to post after the event.

“Perps casino was fun. No regrets. Turning over $100 million from $4 million and going back to $13 million is one hell of thrill. I hope many people enjoyed it just like I did.”

At least in the evening, if most traders retreated to lick the wound, Winn quickly reentered the market and opened new leveraged long positions to Bitcoin and Meme Coin Pepe, but these new trades faced unrealized losses as of Friday. He posted:

“I’ll get it back, I’ll do it all the time. And I’ll do it. I like to play games. I like swings. Money is all about the mindset. At the end of the day, I’m still richer than 99.9% of the CT blocky.”

While the philosophical Wynn may have settled in his path, the incident serves as a clear reminder of the risks and cautionary substances of high-leverage trading for those considering extreme leverage in unstable markets.

Hyperliquid, a decentralized exchange that Wynn has placed its bet on, continues to draw attention to its ability to handle large-scale transactions and its role in shaping the market narrative. Despite the recent pullback, the hype token saw an impressive price action in May, nearly doubled from the beginning of the month, doubling from ~$20 to $40 at its highest point.

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