This trader has been betting not against Bitcoin, but against James Wynn, the legendary trader.
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 $90 837 24h volatility: 0.3% Market cap: $1.81 T Vol. 24h: $60.95 B and Ethereum ETH $3 033 24h volatility: 0.9% Market cap: $366.42 B Vol. 24h: $19.68 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.
Wynn’s PEPE Trading
Earlier today, on May 28, Wynn moved the remaining 203 billion Pepe PEPE $0.000005 24h volatility: 0.1% Market cap: $1.95 B Vol. 24h: $313.16 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.
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