Whale trader James Wynn partially closed his 40x leveraged Bitcoin long position, incurring a $5.11 million loss after Bitcoin briefly dipped. Following this closure, Wynn increased his long position to a notional value of $553 million, currently holding 5,063.59 BTC with a liquidation price of $107,970. This adjustment follows previous position reductions where he sold 2,406 BTC at a $5.257 million loss, bringing his cumulative trading losses to over $10 million despite maintaining $36.33 million in profits for May.