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Key Insights:
- Crypto trader James Wynn has set a liquidation at $115,57, on his current, 40x leveraged long Bitcoin position.
- Bitcoin long-term holders realized $1.96 billion in profits in the past 24 hours, contributing to $3.5 billion in total realized gains.
- Additionally, a dormant whale transferred 40,009 BTC (~$4.68B) to Galaxy Digital, which subsequently deposited 6,000 BTC to Binance and Bybit.
Despite losing over $100 million in Bitcoin bets in June, crypto trader James Wynn is back in the game, opening a 40x leveraged Bitcoin long position. His latest bet comes as BTC price retraced 5% earlier today, from its all-time high of $123,000. During his previous heavy leverage bets, crypto trader Wynn faced several liquidations. However, as he returns with fresh conviction, it will be interesting to see whether he succeeds this time.
Crypto Trader James Wynn Takes 40x Bitcoin Long Leveraged Bet
Crypto trader James Wynn has made headlines again after depositing 468,000 USDC into decentralized exchange Hyperliquid and opening a 40x leveraged long position on Bitcoin (BTC).
According to on-chain data, Wynn’s trade carries a liquidation price of $115,570, 1-2% below the current BTC price. This also reflects high conviction amid recent market volatility. Moreover, the position indicates Wynn’s expectation of a near-term rebound in BTC price momentum.
In the past, despite losing $100 million from his Bitcoin bets, the infamous crypto trader James Wynn justified his bets, stating that it’s either “go big or go home” for him. Furthermore, he also said that a specific group was targeting him for openly disclosing his massive leverage long bets on Hyperliquid.
James Wynn Faces Threat from BTC Long-Term Holders and Whales
While crypto trader James Wynn initiated a massive long position for BTC, he faced a liquidation threat as long-term Bitcoin holders resolved to profit-book after BTC all-time highs.
As per the data from Glassnode, Bitcoin investors collectively realized $3.5 billion in profits over the past 24 hours, marking one of the largest profit-taking days of 2025.
According to on-chain data, long-term holders accounted for most of the realized gains, locking in approximately $1.96 billion, or 56% of the total. Short-term holders followed with $1.54 billion, representing 44% of the profits.
Additionally, a Satoshi-era Bitcoin whale has been selling heavily, with BTC price hitting all-time highs. A long-dormant Bitcoin whale, known for holding 80,009 BTC worth approximately $9.46 billion, has transferred 40,009 BTC, valued at $4.68 billion, to Galaxy Digital in a massive on-chain transaction.
Following the transfer, Galaxy Digital has deposited 6,000 BTC (worth around $706 million) directly into crypto exchanges Binance and Bybit, according to blockchain tracking data. The move has sparked speculation about potential market activity ahead, including liquidity provision or institutional positioning.
BTC Whales Planning to Offload Big on Binance
Blockchain analytics firm CryptoQuant has issued a cautionary note as Bitcoin trades near its all-time highs, warning that whales are positioning to sell on Binance while retail investors continue to pile in.
“While new all-time highs are exciting, the data points to caution,” CryptoQuant noted. “The smart money is moving, and their actions often precede significant market shifts.”
The firm highlighted increasing whale activity on Binance as a potential profit-taking signal, suggesting a divergence between institutional behavior and retail sentiment. This surge in activity on Binance serves as a key market indicator. As the world’s largest cryptocurrency exchange, Binance accounts for more than 25% of global spot trading volume.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
