- James Wynn is known in the trading community as “moonpig”.
- He is a prominent figure on the derivatives platform Hyperliquid.
- Wynn’s fate now hinges on Bitcoin maintaining or recovering its price.
High-profile crypto trader James Wynn is teetering on the brink of total liquidation as Bitcoin’s recent price stagnation places his heavily leveraged position under severe pressure.
Wynn, a prominent figure on Hyperliquid, has amassed a long position of approximately 1,690 BTC currently valued at around $178.78 million.
However, with the cryptocurrency hovering near $105,268, Wynn’s position is dangerously close to his estimated liquidation threshold of $104,607.
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Wynn’s margin usage is reportedly nearing the critical 100%.
Should Bitcoin’s price dip further, it would trigger automatic forced liquidation of his holdings.
To stave off a wipeout, Wynn recently deposited $376,000 in an attempt to shore up his margin.
Once known for billion dollar notional trades and high leverage strategies, Wynn’s current 40x leveraged position has turned into a major liability amid Bitcoin’s cooling sentiment.
