James Wynn Bets Big on Bitcoin with $100 Million Leveraged Long Position
James Wynn, a controversial yet prominent figure in the cryptocurrency trading community, has once again made headlines by reopening a massive leveraged Bitcoin position. Despite facing significant losses in the past, Wynn is doubling down on his bullish stance with a $100 million BTC long at 40x leverage on Hyperliquid. This bold move comes after he successfully turned $7,000 into $25 million in previous trades, though he also experienced steep setbacks. Currently, the BTC price stands at 105,924.49 USDT, with Wynn’s liquidation price set at $103,610. To fine-tune his risk parameters, he injected $20,460 of crowd-funded capital, showcasing his confidence in Bitcoin’s upward trajectory. This development underscores the high-stakes nature of leveraged crypto trading and the unwavering optimism of some traders in the face of volatility.
James Wynn Doubles Down on Bitcoin with $100 Million Leveraged Long
James Wynn, a polarizing figure in crypto trading circles, has reopened a massive Leveraged Bitcoin position despite previous setbacks. The trader—known for turning $7,000 into $25 million before suffering steep losses—now holds a $100 million BTC long at 40x leverage on Hyperliquid. His liquidation price sits at $103,610 after injecting $20,460 of crowd-funded capital to marginally adjust risk parameters.
Wynn’s strategy hinges on extreme volatility tolerance. His public trading antics have drawn both admiration and skepticism, particularly after his account balance once dwindled to $16. The move follows his earlier vow to quit trading, underscoring the addictive nature of high-stakes crypto speculation.
Market observers note the psychological dynamics at play: leveraged positions often reverse precisely when retail traders capitulate. Wynn’s latest gamble tests whether conviction can override market timing—a lesson crypto veterans know all too well.
Bitcoin Tests Key Support Level Amid Neutral Market Sentiment
Bitcoin’s price action is currently concentrated around the $96,700 support level, a threshold that represents the average acquisition price for short-term holders. A successful defense of this level could signal the end of recent downward pressure and mark the beginning of a recovery phase.
Market sentiment remains neutral according to the Fear & Greed Index, with absent signs of aggressive accumulation. This equilibrium suggests restrained price movements may persist until clearer directional momentum emerges.
The growing dominance of Bitcoin continues to divert capital from alternative cryptocurrencies, reinforcing its position as the market bellwether. Traders are monitoring whether BTC can convert this support level into a springboard for upward movement.
Meta Shareholders Overwhelmingly Reject Bitcoin Balance Sheet Proposal
Meta shareholders delivered a resounding rejection of a proposal to allocate part of the company’s $72 billion cash reserves to Bitcoin. With 4.9 billion votes against versus just 3.92 million in favor, the measure failed spectacularly—securing mere 0.08% support. CEO Mark Zuckerberg’s 61% voting control likely sealed the outcome.
The proposal, advanced by bitcoin advocate Ethan Peck, argued BTC’s fixed supply and historical outperformance of bonds made it ideal for preserving shareholder value. BlackRock’s reported endorsement of a 2% Bitcoin allocation failed to sway Meta’s leadership. The tech giant continues exploring blockchain applications despite this setback, having previously launched the Libra stablecoin project in 2019.
Bitcoin Poised for Final Dip Before Potential $125K Surge
Bitcoin’s recent 3.4% weekly decline to $105,333 masks brewing technical strength. The cryptocurrency appears to be forming a recurring ascending broadening wedge pattern—a structure that previously propelled BTC from $97,900 to $104,000 in May.
Analyst Moustache highlights key levels: support held firm at $103,489 after testing $100,700, while resistance peaked at May’s $111,980 all-time high. The OKX 4-hour chart shows striking similarities to April’s setup, where disciplined range-bound trading preceded explosive upside.
Market mechanics suggest accumulation beneath the surface. Each successive higher low since mid-May demonstrates resilient demand, with the $100K psychological level now acting as hardened support. A decisive breakout above $112K could trigger algorithmic buying toward the $125K target.
Corporate Bitcoin Holdings Could Trigger Forced Sales in Market Downturn: StanChart
Standard Chartered warns that corporate Bitcoin treasuries, while currently adding buying pressure, may become forced sellers if prices drop sharply. Analyst Geoff Kendrick highlights that 61 publicly traded companies now hold 673,897 BTC—3.2% of total supply—with MicroStrategy (MSTR) dominating at 580,955 BTC.
A 22% decline below average purchase prices could trigger liquidations, mirroring Core Scientific’s 2022 fire sale of 7,202 BTC at $23,000. Should Bitcoin fall below $90,000, half these corporate holdings WOULD be underwater, creating potential cascading sell pressure.
