High-leverage crypto trader James Wynn has gone “all-in” on shorting Bitcoin, betting on a price drop below $92,000 despite widespread optimism following the potential end of the 40-day U.S. government shutdown.
Bitcoin rebound catches short sellers off guard
As the cryptocurrency market rebounded sharply on news that the U.S. government shutdown might soon end, many short sellers faced unexpected losses. Among them was Wynn, whose main Hyperliquid account suffered 12 liquidations in just 12 hours. According to Hyperdash data, Wynn’s wallet balance has now fallen to around $5,422, marking one of his steepest drawdowns in months.
Blockchain analytics firm Lookonchain reported that Wynn has endured 45 liquidations over the past two months, making him one of the most liquidated traders in recent Bitcoin volatility.
Before the rebound, Wynn had been running several high-leverage Bitcoin short positions, essentially betting that the Bitcoin (BTC) price would decline from levels around $104,793.
Wynn goes “all-in” on Bitcoin short, targets $92,000
Despite repeated liquidations, Wynn has refused to step back. Instead, he announced he was doubling down on his bearish stance, moving all his stablecoin holdings into leveraged short positions.
“In the past few hours, I have deployed all stables (30%) and thrown it all on top of my short positions. No joke. As all-in as I can get,” Wynn wrote on X (formerly Twitter). “I’m either going to make hundreds of millions from my leverage short positions or I will go bust.”
Data from Hyperdash shows Wynn’s main account currently holds a 40x leveraged short position worth approximately $275,000 in Bitcoin. This position risks liquidation if Bitcoin’s price rises above $106,856. At the time of writing, Bitcoin was trading below $101,800, leaving Wynn with an unrealized loss of $11,147 as of 11:20 a.m. UTC on Monday.
Smart money traders also expect downside
While Wynn’s aggressive strategy has drawn attention, he’s not alone in betting against Bitcoin. Data from Nansen’s blockchain intelligence platform shows that many top-performing “smart money” traders are also taking short positions, anticipating further downside.
On Monday, the net perpetual short position on Hyperliquid reached $223 million, with an additional $5.2 million in new short positions opened within 24 hours, according to Nansen data.
Bitcoin price outlook remains uncertain
Bitcoin’s price action continues to polarize traders, with bullish investors pointing to macroeconomic optimism and short sellers warning of overextension. As market volatility intensifies, Wynn’s all-in move has become a high-stakes example of how extreme leverage can amplify both risk and potential reward in the cryptocurrency market.
