This trader has been betting not against Bitcoin, but against James Wynn, the legendary trader.
By Wahid Pessarlay
Editor Julia Sakovich
Updated
2 mins read
Betting against billionaire trader James Wynn might not seem logical to most, but an anonymous trader has been making huge profits from it.
According to data from HyperDash, the “0x2258” address has made a $9 million profit while betting against Wynn’s moves over the past seven days.
When Wynn went long, trader 0x2258 placed a short trade.
In the latest trade, the anonymous trader placed two short bets on Bitcoin BTC $96 611 24h volatility: 2.1% Market cap: $1.92 T Vol. 24h: $29.09 B and Ethereum ETH $1 845 24h volatility: 2.6% Market cap: $222.72 B Vol. 24h: $14.22 B — each worth roughly $123 million and $73 million, respectively.
Wynn, on the other hand, is seeing an unrealized loss of roughly $4 million on his 40x long Bitcoin position with an entry price of $109,552. The liquidation price for the legendary trader’s bet is $107,280.
Notably, Wynn’s trades also brought huge attention to Hyperliquid, a decentralized derivatives trading platform.
Bitcoin has been consolidating between $108,700 and $110,000 over the past 24 hours. The leading cryptocurrency is currently trading at $108,900 with a market cap of $2.16 trillion.
Earlier today, on May 28, Wynn moved the remaining 203 billion Pepe PEPE $0.000009 24h volatility: 1.5% Market cap: $3.71 B Vol. 24h: $591.98 M tokens to the Binance exchange, according to data from Lookonchain.
James Wynn(@JamesWynnReal) just deposited all the remaining 203.73B $PEPE($2.82M) to #Binance.
He might sell it and go all-in on his $BTC long.https://t.co/kdDwi0ocGqhttps://t.co/2kvORnazU8 pic.twitter.com/SbQ0A1jHUu
— Lookonchain (@lookonchain) May 28, 2025
The on-chain analytics platform expects Wynn to sell Pepe for funding his Bitcoin trades on Hyperliquid.
Wynn is well known for his risky trades and many have been following his movements on X to predict market momentum.
Wynn’s trading record between April 19 and May 23 shows impressive gains, worth over $87 million. However, the famous trader has lost over $53 million to liquidations in the latest set of trades since May 23.
If Bitcoin drops further, Wynn’s capital might be at risk of full liquidation if the position is not closed.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
