James Wynn, once known as a fearless crypto trader, is now making headlines again — but this time, for betting big against the market. While many traders are feeling hopeful after Bitcoin’s bounce above $107K, Wynn says it’s all a setup for a major crash.
Wynn Goes ALL In For Short
After suffering a jaw-dropping $100 million loss on a single Bitcoin trade in late May, Wynn hasn’t slowed down or disappeared.
He recently shared that he opened a big short position on Bitcoin at around $108,500, using 40x leverage across multiple exchanges. He says this helps him avoid big players he calls “the cabal.”
After taking over $50 million in profit when Bitcoin dropped to around $100K–$101K, he’s now back with an even bigger short position.
He further warned that bitcoin is making a “Completely fake pump. Expect violent red candles coming soon.” By this, Wynn means he believes the recent price rise is not real and that a big drop is coming, one that could cause panic selling and sharp losses for those not prepared.
What is he up to now?
Wynn himself says he’s not a professional and calls his style “gambling”. He admits he doesn’t use proper risk management and warns others not to copy him
Although he’s not just sticking to Bitcoin, either. Wynn’s also betting big on altcoins and meme tokens, hoping to catch the next big wave. He even opened a new wallet and started trading both Bitcoin and PEPE, already seeing over $2 million in unrealized profits from these moves
And just like before, he might walk away with another huge win, while others are left holding the bag.
