Lookonchain said Wynn made a $30,700 profit on his BTC short before opening a 50x leveraged S&P 500 short at 334.42 with a $2.47 million notional value.
James Wynn closed a 40x leveraged Bitcoin short with a reported $30,700 profit, then opened a new 50x leveraged short on xyz:SP500 at 334.42, according to Lookonchain. The new position carries a notional value of $2.47 million and a liquidation price of $7,436.23. The trades point to a shift from a bearish crypto position to a highly leveraged wager tied to the S&P 500, where leverage can magnify gains and losses.