James Wynn, the popular high-risk, high-reward crypto trader, has suffered substantial losses as Bitcoin and Pepe plunged.
Bitcoin (BTC) price dropped from a record high of $111,900 last week to $105,300 on Friday, while Pepe (PEPE) has dived from $0.00001625 to $0.000025.
These declines, while subtle in the crypto industry, led to huge losses for Wynn, a trader who focuses on using high leverage.
Hyperdash data shows that Wynn now holds assets worth about $62 million on Hyperliquid. He has a leveraged position on Bitcoin valued at $46.4 million, and one on Pepe worth $16 million. The Bitcoin position has a leverage of 40x, while the Pepe position is also worth $16 million.
He has used a $1.16 million margin for the Bitcoin trade, which will be liquidated if BTC price falls to $101,911. Similarly, his Pepe trade has a margin of $1.61 million and a liquidation point at $0.0116.
More data shows that Wynn has closed three unprofitable trades in the past few days. He closed a leveraged Bitcoin trade on Friday with a net loss of $37 million and a Pepe trade on May 27 with a loss of over $858,580.
The recent liquidations, which totaled about $100 million this week, mark a fall from grace for one of the most popular traders in the crypto industry.
James Wynn losses mounted as Bitcoin and Pepe slipped
These liquidations coincided with Bitcoin and other altcoins falling while traders took profits amid ongoing trade concerns. While a U.S. court ruled that Trump’s tariffs were illegal, another one allowed them to continue for the time being.
In a separate statement, Scott Bessent, the Treasury Secretary, dampened market sentiment by saying that talks with China had stalled. He believes the only way out of the crisis will be a meeting between Trump and Xi Jinping.
On the positive side, as we have written before, there are chances that his existing Bitcoin trade will become profitable as the coin has formed a cup and handle and a bullish flag pattern on the daily chart, pointing to an eventual surge in the next few days.
Similarly, as we wrote here, Pepe price may stage a strong breakout amid whale accumulation. It has also formed a bullish flag and a golden cross pattern on the daily chart.
