James Wynn goes ‘all-in’ on shorting Bitcoin after 12 liquidations in 12 hours

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The high-leverage trader said helium was “all-in,” betting connected a Bitcoin diminution beneath $92,000 contempt the optimism surrounding the extremity of the 40-day US authorities shutdown.

James Wynn goes ‘all-in’ connected shorting Bitcoin aft 12 liquidations successful 12 hours

While astir cryptocurrency investors welcomed the marketplace betterment pursuing the imaginable extremity of the US authorities shutdown, immoderate abbreviated sellers were caught disconnected defender by the rebound.

The crypto marketplace betterment saw fashionable high-leverage trader James Wynn’s main Hyperliquid account liquidated aggregate times during the past 24 hours, with his wallet’s worth sinking to conscionable $5,422, according to Hyperdash data.

The unexpected betterment liquidated Wynn 12 times successful the past 12 hours, resulting successful 45 liquidations implicit the past 2 months, according to blockchain information level Lookonchain.

Before the crypto marketplace recovery, Wynn was moving aggregate Bitcoin (BTC) leveraged abbreviated positions, which are de facto bets connected the terms of Bitcoin declining.

Wynn goes “all-in” contempt liquidation, bets connected Bitcoin diminution to $92,000

Despite the mounting losses, Wynn continued doubling down connected his abbreviated positions.

Wynn said helium has transferred each his stablecoin funds into his abbreviated positions, expecting a diminution successful Bitcoin beneath $92,000 contempt optimism implicit the imaginable extremity of the US authorities shutdown.

“In the past fewer hours, I person deployed each stables (30%) + and thrown it each connected apical of my abbreviated positions. No joke. As all-in arsenic I tin get,” said Wynn successful a Monday X post, adding:

“I’m either going to marque hundreds of millions from my leverage abbreviated positions oregon I volition spell bust,” added the pseudonymous trader.

At the clip of writing, Wynn’s main relationship had a 40x leveraged abbreviated presumption worthy $275,000 successful Bitcoin, which would look liquidation if Bitcoin’s terms recovers supra $6,856.

Wynn opened the abbreviated presumption erstwhile Bitcoin was trading beneath $101,800 and faced an unrealized nonaccomplishment of $11,147 arsenic of 11:20 americium UTC connected Monday, according to Hyperdash data.

The industry’s astir palmy traders, tracked arsenic “smart money” traders connected Nansen’s blockchain quality platform, are besides positioning for much imaginable downside for Bitcoin.

Most astute wealth traders were moving abbreviated positions connected Bitcoin, arsenic the nett perpetual abbreviated presumption connected Hyperliquid reached $223 cardinal connected Monday, with $5.2 cardinal worthy of caller shorts opened successful the past 24 hours, according to Nansen.