Blockchain analysts Ember CN and Lookonchain reported 40x Bitcoin short positions by Wynn, citing sizes of 0.85 BTC and 2.65 BTC with very tight liquidation thresholds.
Trader James Wynn opened a 40x short position on Bitcoin after a 6% price drop, according to blockchain analysts Ember CN and Lookonchain. The reports cited different position details: Ember CN said Wynn shorted 0.85 BTC worth about $57,000 at $67,466 with a liquidation price of $68,232, while Lookonchain said he opened a 2.65 BTC short worth about $169,000 at $66,703.1 with a liquidation price of $66,628.7. Both reports underscore the high risk of leveraged crypto derivatives trading, where small adverse price moves can trigger liquidation. The older report also noted Wynn previously lost $100 million on Hyperliquid in June last year.