Crypto Whale Dumps $1.25B Bitcoin Long—Takes the L

Hyperliquid trader James Wynn just folded his hand—closing a monster $1.25B BTC position in the red. Ouch.

Another ’smart money’ play that wasn’t. When will these guys learn? Bitcoin eats overleveraged gamblers for breakfast.

Trader Cuts Losses After Bitcoin Dips on Hyperliquid

Wynn began his bitcoin long position with $830 million on May 21, trimming $400 million in profits the same day. By May 22, the trader increased the position back up to $1.1 billion as BTC crossed $110,000 and gained nearly $40 million in unrealized profits. He later sold 540 BTC for $60 million, securing a $1.5 million profit.

The crypto trader confirmed on X that he “cut his losses” on closing his highly Leveraged long positions.

Before going all in on Bitcoin, James Wynn had closed a long position on Pepe for a profit of $25.19 million.

Bitcoin was cruising to new all-time highs this week before it dipped on Trump’s 50% tariff announcement on all EU imports. The leading cryptocurrency saw a local bottom at $107,431 on late Saturday. At the time of writing, Bitcoin is trading at $108,238.

Hyperliquid Sees One of Biggest Trades by a Single Trader

The decentralized crypto exchange Hyperliquid saw one of the biggest trades by a single trader when James Wynn opened a long position that reached $1.25 billion. This long bet signifies a shift among traders as trust of DEX increases. The native token of the exchange HYPE saw its demand rise as the price increased to $34.64, up 4.2% in the last 24 hours.