James Wynn, one of the closely followed names in the cryptocurrency market, made a significant position change at a time when the price of Bitcoin was above the $ 90,000 band. The experienced investor made a significant profit by closing his long position in Bitcoin, which he carried with high leverage. In the same time period, he opened a new and aggressive position on Ethereum. This positioning was interpreted as a strong signal that Wynn was undergoing capital rotation. Market actors state that these moves are carefully examined in terms of short-term risk management and return optimization.
He Closed His Bitcoin Position and Took Profit
According to the data shared by the blockchain analysis company Onchain Lens, Wynn closed his long position in Bitcoin in a single transaction. The sale of approximately 87.67 BTC took place at an average price of $92,765. The investor received a net gain of approximately $43,790 after deducting transaction costs. This transaction came after Bitcoin faced resistance in the $90,000 region.
Shortly before closing the position in question, it was known that Wynn took a long position again after the price of Bitcoin exceeded the $ 93,000 threshold. The investor carried a position of 124.18 BTC worth approximately $11.5 million with 40x leverage. The average entry price was around $91,332.
Evaluations made in market circles emphasize that Wynn’s decision to close the position does not mean a negative expectation for Bitcoin. On the contrary, it is emphasized that it aims to protect the return obtained during the rise and limit the risk of possible withdrawal. Thus, Wynn showed an example of disciplined profit taking in a region where volatility was high.
Turned to Ethereum and Altcoins
Wynn turned his focus to Ethereum immediately after closing his long position in Bitcoin. The experienced investor showed that he has a strong belief in the short-term upside potential by opening a long position on the ETH side with 25x leverage. While the price of Ethereum was traded around $ 3,254 during the said period, this level stands out as a technically critical region.
Investors’ turn to Ethereum is associated with the expectation that ETH may perform better against BTC by market actors. Especially during periods of transition from main cryptocurrencies to various altcoins, high volume transactions can significantly affect market perception. Wynn’s preferences are also being watched closely in this context.
On the other hand, the investor’s interest is not limited to large-scale cryptocurrencies. Again, according to internal Blockchain data, Wynn also carries long positions with 10x leverage in PEPE, which is in the memecoin branch. These positions have unrealized gains of approximately $172,000. Wynn’s position distribution on the Ethereum and memecoin side reveals that risk appetite is still high and short-term opportunities are being evaluated.
