James Wynn Reopens Long Position on Bitcoin, This Time for $140 Million Amid Market Volatility

Crypto trader James Wynn has re-entered a margin position on perpetual Bitcoin futures on the platform Hyperliquid with nearly $100 million.

This move follows days after the liquidation of a similar position as the price of digital gold fell below $105,000.

Wynn has now increased his position to $140 million as the value of the leading cryptocurrency rises.

His liquidation price is set at $104,820, with unrealized gains exceeding $740,000.

Currently, Bitcoin is trading around $106,768, showing a 2.2% increase over the last 24 hours, according to CoinGecko.

According to the aggregator Hypurrscan, another long position with a 40x leverage will be liquidated if the price of Bitcoin drops below $103,630. At the time of writing, the unrealized loss on that position exceeds $400,000.

Wynn commented that his forced liquidation level has become a target for major market players.

“They are coming after me again,” the trader wrote.

He urged others to actively “buy the damn dips” to prevent his liquidation.

Influencer known as Altcoin Gordon speculated that Wynn’s second $100 million trade may indicate market manipulation.

“Within seconds, the shadowy market makers dropped the price to the liquidation level of $104,580,” he noted.

Some traders have begun sending donations to Wynn’s address to help him fund his margin positions. According to on-chain analyst known as dethective, at least 24 users have transferred stablecoins to the trader’s wallet, with the largest donation nearing $8,000.

Earlier, Wynn had asked the crypto community for donations in “stablecoins” to “fight against the market maker cartel,” promising to return contributions to everyone if he succeeds. He also mentioned that some of his personal accounts on cryptocurrency exchanges were “closed overnight” without apparent reasons.

Despite the circumstances, Wynn remains optimistic about Bitcoin’s future.

“The bearish momentum is weakening,” he wrote.

Furthermore, the trader predicted an upcoming rally for the leading cryptocurrency that would “catch investors off guard.”

It’s worth noting that in March, high-risk positions threatened not only the platform’s stability but also the safety of client funds in the Hyperliquidity Provider Vault.