James Wynn, the hyperliquidal merchant who had at one point a notional position of a billion dollars, became a disproportionate victim of Bitcoin
feeling of cooling.
The current position of Wynn with a strong BTC reason, which he seems to have trouble maintaining, has evolved in a loss of almost $ 100 million in last week.
Hyperdash data show that the use of the margin of Wynn approaches 100%, which would lead to a total liquidation of its position, although Wynn recently made a deposit of $ 376,000 to strengthen its defenses.
The merchant, known to make aggressive bets under the pseudonym “Moonpig”, currently has a position long of around 1,690 BTC, worth around 178.78 million dollars.
The chain data show that 40x leverage BTC bets from Wynn now have an unrealized loss of approximately $ 3.5 million, which represents a negative yield of 77%.
But with BTC negotiating nearly $ 106,000, just slightly above Wynn’s liquidation price of around $ 104,607, any new drop in the price of the assets could trigger forced automatic sales.
