James Wynn’s leveraged Bitcoin position teeters on the edge amid market pullback.
James Wynn, the trader known as “moonpig” in crypto circles, faces significant risk as Bitcoin’s recent cooling trend threatens his highly leveraged position.
Wynn’s current long exposure of roughly 1,690 BTC, valued near $179 million, carries about 40x leverage. Over the past week, he has incurred losses approaching $100 million.
Data from Hyperdash reveals Wynn’s margin utilization is nearing 100%, putting him at imminent risk of a full liquidation. To shore up his position, Wynn made a recent deposit of $376,000.
With Bitcoin trading slightly above his estimated liquidation threshold of around $104,600, any dip below that level could force automated sell-offs, potentially wiping out his position.
His unrealized losses now stand near $3.5 million, a 77% drop on his leveraged investment, illustrating the steep hazards of trading with extreme leverage during volatile market conditions.
