James Wynn’s second $100M Bitcoin bet: ‘They are hunting me’

Multimillionaire cryptocurrency trader James Wynn has opened a second leveraged Bitcoin position for nearly $100 million, just days after being liquidated from a similar trade.

According to blockchain data aggregator Hypurrscan, the position is set to be liquidated if Bitcoin (BTC) falls below $103,630 and is currently showing an unrealized loss of over $592,000.

The trade comes less than a week after Wynn’s previous $100 million position was liquidated on May 30, when BTC briefly dipped below a 10-day low of $105,000.

Wynn’s bet coincides with growing market caution. Bitcoin’s next significant support remains just above $103,000, as market participants remain in “wait-and-see mode” ahead of the release of the key US jobless claims report on June 5, Nexo dispatch editor Stella Zlatareva, told Cointelegraph.

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Following news of his second bet, Wynn alleged on X that his liquidation level is being deliberately targeted by major market participants.

“They’re coming for me again,” wrote Wynn, disclosing his $103,640 liquidation level in a June 2 X post, adding:

“Don’t let these evil bastards liquidate me.”

Crypto influencer Altcoin Gordon also called out market manipulation after Wynn’s second $100 million bet was initiated.

“Within seconds, the shady market makers dumped the price toward his liquidation price of $104,580,” wrote Gordon in a June 2 X post.

Related: Blockchain Group adds $68M in Bitcoin to corporate treasury

Some traders have started donating to Wynn’s blockchain address to help him fund his leveraged positions.

At least 24 blockchain users sent stablecoins to Wynn’s cryptocurrency address, with the largest donation nearly reaching $8,000, according to data compiled by pseudonymous blockchain sleuth “dethective.”

Wynn previously asked the crypto community for stablecoin donations to “fight the market-making cabal,” promising to reimburse each user, “assuming” that he wins.

He also claimed that some of his personal accounts on cryptocurrency exchanges were “closed overnight” for no obvious reason.

“Bearish momentum is weakening,” wrote Wynn in a follow-up X post on June 3, predicting an incoming Bitcoin rally that will see investors “caught off guard.”

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