Pseudonymous cryptocurrency trader James Wynn, known for their high-risk leveraged bets, has been liquidated shorting Bitcoin (CRYPTO: BTC) once again, on-chain tracking firm Lookonchain reported on Sunday.

Bitcoin Moves Against Wynn’s Bet…Again

Lookonchain, citing data from Hyperliquid perpetual exchange, stated that Wynn opened several short positions at entry prices between $66,975 and $67,264.

Then Bitcoin surged to $69,500 late Sunday, triggering unrealized losses that eroded margins and led to automatic liquidations. The latest liquidation was executed at $67,955.

This was Wynn’s sixth liquidation over the past two weeks. No open positions remained active.

From a high of more than $84 million, the trader’s account balance had fallen to $914 at the time of writing. Additionally, these bets resulted in more than $22 million in combined losses, a stark reversal from $76 million in peak profits in May last year.

Audacious Or Stupid?

Wynn first burst onto the scene in March 2025, when he turned a $3 million position into $100 million through a series of high-leverage trades, primarily on the meme coin Pepe (CRYPTO: PEPE). The rapid success attracted major online attention, with traders closely tracking their on-chain moves.

Wynn acknowledged they lost $100 million within days after a failed series of leveraged trades on Hyperliquid.

“With all this new attention, the trading spiraled out of control. I was basically gambling,” they confessed on X

Price Action: At the time of writing, BTC was exchanging hands at $69,038.46, up 3.33% in the last 24 hours, according to data from Benzinga Pro.

Benzinga Note: Leverage trading allows cryptocurrency traders to open larger positions using borrowed capital. While it can potentially amplify profits, it also significantly increases the risk of substantial losses due to the volatile nature of cryptocurrencies.

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