James Wynn, the Hyperliquid trader who had at one time a billion-dollar notional position, has become an outsized victim of bitcoin’s
cooling sentiment.
Wynn’s current highly leveraged BTC position, which he appears to be struggling to maintain, spiralled into a loss of nearly $100 million over the last week.
Data from Hyperdash shows that Wynn’s margin usage is nearing 100%, which would result in a total liquidation of his position, though Wynn recently made a deposit of $376,000 to bolster his defenses.
The trader, known for making aggressive bets under the pseudonym “moonpig,” currently holds a long position of approximately 1,690 BTC, valued at roughly $178.78 million.
On-chain data shows that Wynn’s 40x leveraged BTC bets now carry an unrealized loss of approximately $3.5 million, representing a negative return of 77%.
But with BTC trading near $106,000, just slightly above Wynn’s liquidation price of around $104,607, any further decline in the asset’s price could trigger automatic forced sales.
www.coindesk.com
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