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- James Wynn reopened a 40x Bitcoin short on Hyperliquid just hours after liquidation.
- Arkham data shows Wynn used about $3,911 in USDC to open a $190,000 BTC short.
- Since May 2025, Wynn has reportedly lost $98.5 million across leveraged trades.
James Wynn has returned to the market with another leveraged Bitcoin short after losing a previous position. The pseudonymous trader reopened the bearish bet within hours of liquidation, extending a streak of aggressive trades that has kept him under close watch.
Arkham Intelligence highlighted the latest on-chain activity tied to Wynn. The data shows that he deposited about $3,911 in USDC to Hyperliquid. Most of that amount reportedly came from referral rewards. He then opened a 40x leveraged short on about 2.69 BTC. The trade created nearly $190,000 in notional exposure.
James Wynn Reloads Bearish Bitcoin Bet
The position offered little room for price movement against him. Bitcoin was trading near $70,700 when the short was active. That left the trade close to liquidation from the start. The margin sat only hundreds of dollars away from being erased.
The position was closed hours later when there was a brief rise in the prices of Bitcoin. The rise in the prices is due to various reports indicating that there could be negotiations between the United States and Iran under President Donald Trump’s administration. The rise led to the loss of Wynn’s margin, and the loss was estimated at $3,430.
However, Wynn did not stay out of the market even after losing. Instead, he used his remaining balance, which is around $2,600, to initiate another short position.
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This demonstrated that he is holding an opinion on Bitcoin, which is still the same. This is also another example of Wynn’s risky trading style.
James Wynn’s Losses Deepen Since May 2025
Wynn is one of the most well-known traders on Hyperliquid. Previously, he was able to transform a few million dollars into an astonishing $100 million on the same exchange.
However, this is soon to come to an end in a spectacular fashion. Since peaking in May 2025, Wynn has reportedly accumulated a total loss of $98.5 million.
His losses were a result of leveraged bets in both directions. This included billion-dollar trades, account wipes, liquidations, and billion-dollar trades. There was even an $80 million drawdown in a single weekend.
With Bitcoin trading at $71,153 and showing some short-term strength, Wynn’s latest short position has once again drawn market attention.
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