$110M Wiped Out: Bitcoin Whale Trader Gets Burned As BTC Tags $104,150

Pseudonymous crypto trader James Wynn, known for his high-leverage strategies, suffered losses exceeding $110 million after Bitcoin‘s BTC/USD price slipped below key support levels on Friday.

Wynn had taken a bold bet on Bitcoin’s upward trajectory, opening a massive $830 million long position on May 21, acquiring over 7,700 BTC at roughly $105,000 per coin.

By May 24, he had increased his exposure to 11,588 BTC, pushing his position’s value to $1.25 billion at an average cost of $108,243.

Don't Miss:

• Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies.
• Grow your IRA or 401(k) with Crypto – unlock  the power of alternative investments including a Crypto IRA within your retirement account.

However, the market turned sharply following U.S. President Donald Trump's announcement of a 50% tariff on EU exports, pushing Bitcoin below $105,000 and triggering large-scale liquidations of Wynn's leveraged holdings.

Latest Startup Investment Opportunities:

According to Hypurrscan, Wynn faced a series of painful liquidations: 527 BTC worth $55 million was wiped out at $104,950, followed by another 422 BTC at $104,150, and a final 95.5 BTC at $104,620.

In total, 1,044 BTC were liquidated over the week.

Wynn expressed frustration over market integrity, posting on X: "I have exposed just how corrupt these markets are. Guess it's better to just buy and hold BTC on spot."

Despite the drawdown, Wynn reportedly maintains a remaining long position of 1,591 BTC, worth approximately $167 million, with a high-risk 40x leverage and a liquidation threshold near $104,530.

Read Next:

• New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase.
• A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase.

Image: Shutterstock