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On May 9th, COINOTAG reported that prominent trader James Wynn has executed a strategic adjustment to his cryptocurrency holdings. According to insights from HyperInsight, Wynn has initiated a partial closure of his extensive 40x Bitcoin long position, transacting between $101,500 and $102,500. This maneuver involved approximately 330 BTC, translating to a total value near $33 million. Following this closure, Wynn retains a significant long position of 554 BTC, estimated at around $57 million, showcasing unrealized profits totaling $4.73 million.
Previously, during a concentrated trading window from May 1st, Wynn leveraged a substantial $137 million BTC long position on the Hyperliquid platform. Within 40 hours, he acquired 1,419.4 BTC at an entry price of $96,629.4, with a calculated liquidation threshold set at $87,844. These developments underline the dynamic landscape of cryptocurrency trading and the strategic maneuvers employed by significant market players.
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