Well-known Hyperliquid trader James Wynn has increased his 40x leverage long Bitcoin bet to $1.25 billion after closing his $PEPE position for a $25.2 million profit.
On May 24, Lookonchain reported that Wynn entered an 11,588 BTC position with an average entry price of $108,243 and a liquidation level of $105,180.
The move came hours after Wynn exited his Ether (ETH) and Sui (SUI) longs at a $5.3 million loss. At the time, he used the proceedings to double down on Bitcoin (BTC), increasing his position to 11,070 BTC.
Wynn began his Bitcoin long position with $830 million on May 21, trimming $400 million in profits the same day. By May 22, he ramped the position back up to $1.1 billion, holding high leverage as BTC crossed $110,000 and gained $39 million on paper. He later sold 540 BTC for $60 million, securing a $1.5 million profit.
James