Smart Trader Flips James Wynn’s $622M Bitcoin Long, Nets $5.6M

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When James Wynn Plays Poker, the Chips Are Bitcoin! 🎲💰

Ah, the illustrious James Wynn, a man who seems to have mistaken Bitcoin for a game of Monopoly, continues to bolster his audacious long position in the digital currency. With a staggering 5,676 BTC nestled in his portfolio, valued at a princely $622.6 million, one might wonder if he’s playing with real money or just Monopoly money. His liquidation price? A mere $108,010. Talk about living on the edge!

Trader @JamesWynnReal, the modern-day Midas, keeps adding to his $BTC long, now holding 5,676 $BTC ($622.6M) with a liquidation price of $108,010. A drop of just 1.53% will trigger liquidation. Will we see another crash targeting James Wynn? — Lookonchain (@lookonchain) May 27, 2025

As Bitcoin flirts with the current trading level of around $109,751, one can’t help but chuckle at the thought that a mere 1.5% dip could send Wynn’s dreams crashing down faster than a poorly constructed house of cards.

Earlier today, as BTC dipped below $108,000, our dear Wynn, in a moment of sheer brilliance, decided to close parts of his Bitcoin and PEPE PEPE positions, taking a delightful $4.4 million loss to stave off the grim reaper of liquidation.

Brutal whale hunt. As $BTC dropped below $108,000, top trader James closed part of his $BTC and $PEPE longs, taking a $4.4M loss to reduce his liquidation risk. Current position: 5,782 $BTC ($626M) Liquidation price: $107,387.82 Unrealized PnL: -$10.5M — Lookonchain (@lookonchain) May 27, 2025

Trader Mirrors Wynn in Reverse

In a twist worthy of a Shakespearean comedy, Wynn’s trading antics have become a veritable goldmine for another savvy player: wallet address 0x2258. According to the oracle of on-chain data, LookonChain, this clever trader has pocketed a cool $5.6 million in profits over the last three days simply by doing the opposite of what Wynn does. It’s like watching a game of chess where one player is perpetually in checkmate!

What a smart trader! When @JamesWynnReal goes long, he goes short. When James Wynn goes short, he goes long. And in just 3 days, he’s made $5.6M! How did he do it?👇 On May 24, trader 0x2258 started shorting $BTC and $ETH, when James Wynn was long $BTC. On May 25, when… — Lookonchain (@lookonchain) May 27, 2025

This counter-trading tactic has caught the attention of the community. For instance, when Wynn went long on May 24, 0x2258 shorted BTC and ETH ETH. On May 25, when Wynn closed his long positions, 0x2258 exited his shorts for a $1.36 million gain. That same day, Wynn switched to shorting BTC, prompting 0x2258 to go long. On May 26, Wynn reversed again, going long, so 0x2258 went short once more, now sitting on an unrealized $1.7 million profit. It’s a veritable dance of the dollar signs!

Long-Term Holders Continue Accumulation

While the short-term traders engage in their high-stakes tango, the long-term holders (LTHs) appear as unfazed as a cat in a room full of rocking chairs. CryptoQuant analyst Amr Taha noted that these steadfast holders have increased their accumulation during this volatile stretch. Notably, the LTH realized capitalization has climbed above $28 billion, the highest level since April. “This strategic accumulation during moments of market stress reflects the deep conviction of LTHs. Rather than being shaken out by short-term volatility, they see these liquidation-driven dips as prime opportunities to strengthen their positions,” Taha explained, likely while sipping a fine sherry.

Meanwhile, analyst Ibrahim Cosar pointed to a double bottom formation, a classic bullish reversal signal. He believes that if the $109,400 holds as support, levels above $112,000 are well within reach. Ah, the sweet scent of optimism in the air!

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2025-05-27 19:48