James Wynn, a prominent cryptocurrency trader, has initiated a second leveraged position in Bitcoin worth almost $100 million, just days after his first trade was liquidated. This new position, tracked by blockchain data aggregator Hypurrscan, is set to be liquidated if Bitcoin's price falls below $103,630, although it is currently showing an unrealized profit of over $592,000.
This recent trade follows a tough week for Wynn, whose previous nearly identical $100 million position was liquidated on May 30 when Bitcoin dipped below a 10-day low of $105,000. As market caution increases, Bitcoin's critical support is now hovering just above $103,000, with many investors adopting a cautious stance leading up to the US jobless claims report due on June 5, according to Stella Zlatareva, editor at Nexo dispatch.
Wynn has alleged that large market participants are intentionally targeting his liquidation level. In messages on social media platform X, he claimed, "They’re coming for me again," and disclosed his liquidation level as $103,640, urging others not to let him be liquidated.
Further intensifying the situation, crypto influencer Altcoin Gordon pointed out possible market manipulation, noting how swiftly the price had dropped towards Wynn's liquidation point after his announcement. Following this alert, some in the crypto community have even begun sending donations to Wynn's blockchain address to support his trading efforts, with one donation nearing $8,000.
Wynn has previously solicited the crypto community's help, promising to reimburse donors if he succeeds, suggesting some of his trading accounts were inexplicably shut down. As these events unfold, traders and investors are closely monitoring Bitcoin's price fluctuations amid increasing speculation and market uncertainty.
This recent trade follows a tough week for Wynn, whose previous nearly identical $100 million position was liquidated on May 30 when Bitcoin dipped below a 10-day low of $105,000. As market caution increases, Bitcoin's critical support is now hovering just above $103,000, with many investors adopting a cautious stance leading up to the US jobless claims report due on June 5, according to Stella Zlatareva, editor at Nexo dispatch.
Wynn has alleged that large market participants are intentionally targeting his liquidation level. In messages on social media platform X, he claimed, "They’re coming for me again," and disclosed his liquidation level as $103,640, urging others not to let him be liquidated.
Further intensifying the situation, crypto influencer Altcoin Gordon pointed out possible market manipulation, noting how swiftly the price had dropped towards Wynn's liquidation point after his announcement. Following this alert, some in the crypto community have even begun sending donations to Wynn's blockchain address to support his trading efforts, with one donation nearing $8,000.
Wynn has previously solicited the crypto community's help, promising to reimburse donors if he succeeds, suggesting some of his trading accounts were inexplicably shut down. As these events unfold, traders and investors are closely monitoring Bitcoin's price fluctuations amid increasing speculation and market uncertainty.
