On June 2nd, COINOTAG News reported a significant development in the Bitcoin market stemming from on-chain data. Prominent whale, James Wynn, recently reinstated his 40x leverage Bitcoin long position, which has encountered persistent declines since its activation. As a result, Wynn’s position is now grappling with an unrealized loss nearing $950,000. This unsettling trend has raised eyebrows among investors, particularly as the liquidation price for this position hovers at a critical threshold of $104,580. Traders are closely watching these dynamics, as such high-leverage strategies can precipitate further volatility within the cryptocurrency landscape. Understanding these market movements is essential for stakeholders seeking to navigate the complexities of digital assets effectively.
Source: https://en.coinotag.com/breakingnews/bitcoin-dip-continues-as-whale-james-wynn-faces-950000-loss-on-40x-leverage-long-position/