Whale James Wynn Faces $1.35 Million Unrealized Loss on 40x Bitcoin Long Position

On June 2nd, COINOTAG reported a significant development in the crypto sector involving whale investor **James Wynn**. Recent on-chain analysis reveals that Wynn has initiated a **40x long position** in **Bitcoin** that now faces an **unrealized loss** of **$1.35 million**. The position, valued at **$98,679,475.37**, was opened with an entry price of **$105,890.3**. Currently, investors are closely monitoring the situation as the liquidation price is set at **$104,150**. With volatility characterizing the Bitcoin market, such high-leverage positions emphasize the risks associated with crypto trading. Investors are advised to stay informed about market dynamics and risk management strategies as they navigate the complex landscape of cryptocurrency investments.