Trader James Wynn on the Hyperliquid platform had his Bitcoin (BTC) long positions liquidated after the price of Bitcoin fell below $105,000, resulting in losses of nearly $100 million.
James had established two significant leveraged long positions on Bitcoin, betting that the cryptocurrency's price would rise. However, according to on-chain data, on May 30, as BTC dropped to a 10-day low, these two positions were liquidated, totaling up to $99.3 million.
The first position was 527.29 BTC, worth $55.3 million, and was liquidated when the price of Bitcoin reached $104,950; the second position was 421.8 BTC, worth $43.9 million, and was closed when Bitcoin further fell to $104,150. This data comes from the Hyperliquid analysis platform Hypurrscan.
On May 29, another position of James, consisting of 94 BTC worth $10 million, was also liquidated when the price of Bitcoin was $106,330.
In total, James had 949 BTC positions liquidated. Both Arkham Intelligence and Lookonchain noted that James's losses approached $100 million over the past week.
According to TradingView data, during morning trading on May 30, the price of Bitcoin fell to a low of $104,630 on the Coinbase platform, but the price drop was even greater on other trading platforms.
On May 24, James increased his 40x leveraged Bitcoin long position to $1.25 billion, but after U.S. President Donald Trump mentioned tariffs again, the price of Bitcoin dropped, leading to significant losses.
James made a mysterious response to the liquidation event on the X platform, sharing a screenshot from the 1999 sci-fi classic film "The Matrix," featuring the protagonist Neo (played by Keanu Reeves) stopping bullets in mid-air.
According to Hypurrscan data, he currently still holds an open long position with 40x leverage, which is a perpetual contract. James opened this long position when the price of Bitcoin was $107,993, and his unrealized loss is currently $3.4 million.
James Wynn initially gained widespread attention for his choice of meme coins, particularly his investment in the Pepe (PEPE) meme coin, which brought him millions in profits.
On May 29, before this massive liquidation, he described himself as an "extremely degenerate" trader, taking on high-risk leveraged trades, and added that he might lose everything. He said:
"I did not follow proper risk management and do not claim to be a professional; if I had to say, I can only say I am lucky. I am actually gambling. I might lose everything. I strongly advise people not to follow my example!"
Related: Hyperliquid trader turns $3 million into $27.5 million in 52 days
Original article: “Hyperliquid whale loses nearly $100 million as Bitcoin (BTC) dips below $105,000”
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