James Wynn, the hyperlichid merchant who had a notional position of one billion dollars, has become a Bitcoin Bitcoin victim
Feeling of cooling.
Wynn’s current BTC position, which seems to be struggling to maintain, became a loss of almost $ 100 million during the last week.
HyperDash data show that the use of Wynn’s margin is about 100%, which would result in a total liquidation of its position, although Wynn recently made a tank of $ 376,000 to reinforce its defenses.
The merchant, known for making aggressive bets under the pseudonym “Moonpig”, currently has a long position of approximately 1,690 BTC, valued at approximately $ 178.78 million.
The data in the chain show that the BTC bets leveraged 40x of Wynn now have an unrealized loss of approximately $ 3.5 million, which represents a negative yield of 77%.
But with the BTC trade about $ 106,000, just a little above the Wynn settlement price of around $ 104,607, any additional decrease in the price of the asset could trigger automatic forced sales.
