Whale James Wynn Liquidates $400 Million in BTC Position Amid Price Retracement

On May 21st, COINOTAG reported significant market activity, noting on-chain analyst Rongjian’s insights into the actions of whale James Wynn. In a swift move, Wynn liquidated a staggering $400 million position, resulting in a decrease of 3,688 BTC from his portfolio. This adjustment saw his total holdings drop from $830 million to approximately $430 million. The liquidation coincided with a notable price retracement for Bitcoin (BTC), which plunged by nearly $1,000 during the episode, falling from $107,500. As the BTC price neared his original entry point, Wynn strategically halted further reductions and began incrementally augmenting his long position, reflecting a calculated shift in his trading strategy amid volatile market conditions.