Crypto Whale Drops $1B Bitcoin Bet—Claims Breakout Is Imminent
A mystery trader just went all-in with a billion-dollar Bitcoin wager, signaling unshakable conviction in an overdue rally. Forget diamond hands—this is a tungsten-grade gamble.
Market technicians agree: BTC’s coiled price action mirrors pre-bull run patterns from 2020 and 2016. But will Wall Street’s latest ’risk-on’ narrative actually play out this time—or is this another case of hedge funds front-running retail yet again?
Trader Bets Big on BTC
Wynn entered the long Bitcoin position about a week ago with less than $390 million and an average price of roughly $103,000. The bet initially had a liquidation price of $96,600 and a margin of $9.7 million.
As the price of BTC rose, the whale continued to increase his position on the bet. A series of tweets from the market analytics platform Lookonchain revealed that the bet eventually increased to $415 million, $673 million, and even $900 million. At $900 million, Wynn’s bet ranked first on HyperLiquid, surpassing the combined positions of the next six traders.
On May 21, the position exceeded 10,000 BTC and became worth $1.1 billion. After bitcoin broke through $111,900, the bet surged to $1.14 billion and was sitting on an unrealized profit of more than $39 million.
Wynn Sits on $14M Unrealized Profit
As Wynn increased his bet, he also took profits, with his latest sale on May 22 – $60 million worth of BTC to realize a profit of $1.5 million. BTC has retraced a bit since hitting an ATH, so the value of the bet has declined to around $800 million. However, at the time of writing, he was still sitting on an unrealized profit of at least $14 million despite having taken profits of more than $17 million.
Talking about his position and profit-taking strategy, Wynn said BTC is dying to break out higher. He believes the cryptocurrency could hit the $115,000 to $118,000 target by the end of next week or even within hours in the coming days.
The whale insists there is a major psychological support at $100,000. Once bitcoin tops around the $118,000 to $122,000 range, there will likely be a cool-off and some sideways movement. Afterward, the market could witness interesting trends as the altcoin season begins.
