Bitcoin Plunge Wipes Out Nearly $100M in Hyperliquid Whale Losses
James Wynn’s 949 BTC Long Bet Liquidated After Price Slips Below $105K
A high-stakes Bitcoin trader on Hyperliquid known as James Wynn has suffered one of the largest liquidations in recent trading memory, after 949 BTC worth $99.3 million was wiped out when Bitcoin dropped below $105,000.
Wynn had doubled down on a massive long position using 40x leverage, believing Bitcoin would continue its bullish run. But that optimism turned costly after the cryptocurrency dipped to a 10-day low, triggering liquidation across multiple positions.
Massive Liquidation Sequence Totals 949 BTC
According to on-chain data from Hypurrscan, Wynn’s losses played out in multiple stages:
A 527.29 BTC position valued at $55.3 million was liquidated when Bitcoin hit $104,950
A second position of 421.8 BTC worth $43.9 million was closed when Bitcoin fell further to $104,150
On May 29, a smaller 94 BTC position worth $10 million was liquidated at $106,330
In total, Wynn lost 949 BTC, and both Arkham Intelligence and Lookonchain confirmed his losses neared $100 million over the week.
James Wynn liquidation transactions. Source: Arkham Intelligence
Bitcoin’s price touched $104,630 on Coinbase during early trading on May 30, though other exchanges showed even lower levels.
A $1.25B Leverage Bet That Backfired
Wynn’s strategy reached new extremes on May 24, when he raised his 40x leveraged bet to a staggering $1.25 billion. The position, tied to a perpetual contract, was opened when Bitcoin was at $107,993.
As of May 30, that position remains open and is currently sitting on an unrealized loss of $3.4 million.
Source: Hypurrsan
The decline followed renewed tariff rhetoric from former U.S. President Donald Trump — a reminder of how macroeconomic politics can quickly rattle crypto markets.
Wynn: “I Stand to Lose Everything”
In a moment of self-awareness, Wynn described himself on X as an “extreme degenerate” investor:
“I do not follow proper risk management, nor do I claim to be a professional; if anything, I claim to be lucky. I’m effectively gambling. And I stand to lose everything. I strongly advise people against what I’m doing!”
He punctuated the moment with a cryptic screenshot from The Matrix, where Neo stops bullets — a possible metaphor for trying to hold off inevitable losses.
Wynn gained early notoriety for turning risky memecoin bets, especially in PEPE, into millions in profit. But this week’s collapse underscores the perils of extreme leverage and emotional investing.
While Wynn’s high-risk style has built a loyal social media following, it now serves as a cautionary tale for traders watching from the sidelines.
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