Wynn

Nansen

Bitcoin

James

Hyperliquid

While most cryptocurrency investors welcomed the market recovery following the potential end of the US government shutdown, some short sellers were caught off guard by the rebound.
The crypto market recovery saw popular high-leverage trader James Wynn’s main <a href="https://cointelegraph.com/explained/what-is-hyperliquid-hlp-and-how-does-it-work" rel="noopener noreferrer nofollow" target="_self">Hyperliquid </a>account liquidated multiple times during the past 24 hours, with his wallet’s value sinking to just $5,422, according to Hyperdash <a href="https://hyperdash.info/trader/0x5078C2fBeA2b2aD61bc840Bc023E35Fce56BeDb6" rel="noopener noreferrer nofollow" target="_blank">data</a>.
The unexpected recovery liquidated Wynn 12 times in the last 12 hours, resulting in 45 liquidations over the past two months, <a href="https://x.com/lookonchain/status/1987715920580764046'" rel="noopener noreferrer nofollow" target="_blank">according</a> to blockchain data platform Lookonchain.
Before the crypto market recovery, Wynn was running multiple Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) <a href="https://cointelegraph.com/explained/long-and-short-positions-explained" rel="noopener noreferrer nofollow">leveraged short positions</a>, which are de facto bets on the price of Bitcoin declining.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-11/019a6d8c-2244-7321-bb5b-826babb61b4b" title="" alt="James Wynn goes ‘all-in’ on shorting Bitcoin after 12 liquidations in 12 hours">
 <figcaption style="text-align: center;">
 James Wynn-related wallet “0x5078,” all-time chart. Source: Hyperdash
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Related: <a href="https://cointelegraph.com/news/chinese-ai-models-beat-chatgpt-crypto-trading" rel="noopener noreferrer nofollow">China’s budget AI bots smash ChatGPT in crypto trading face-off</a>
<h2 id="wynn-goes-all-in-despite-liquidation-bets-on-bitcoin-decline-to-92-000">Wynn goes “all-in” despite liquidation, bets on Bitcoin decline to $92,000</h2>
Despite the mounting losses, Wynn continued doubling down on his short positions.
Wynn said he has transferred all his stablecoin funds into his short positions, expecting a decline in Bitcoin below $92,000 despite optimism over the potential end of the US government shutdown.
“In the past few hours, I have deployed all stables (30%) + and thrown it all on top of my short positions. No joke. As all-in as I can get,” said Wynn in a Monday X <a href="https://x.com/JamesWynnReal/status/1987721100655202456" rel="noopener noreferrer nofollow" target="_blank">post</a>, adding:
<blockquote>
 “I’m either going to make hundreds of millions from my leverage short positions or I will go bust,” added the pseudonymous trader.
</blockquote>
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-11/019a6d8c-248a-7d45-8114-8dbccd16eea4" title="" alt="James Wynn goes ‘all-in’ on shorting Bitcoin after 12 liquidations in 12 hours">
 <figcaption style="text-align: center;">
 Source: James <a href="https://x.com/JamesWynnReal/status/1987721100655202456" rel="noopener noreferrer nofollow" target="https://x.com/JamesWynnReal/status/1987721100655202456">Wynn</a>
 </figcaption>
</figure>
Related: <a href="https://cointelegraph.com/news/michael-saylor-strategy-november-45m-bitcoin-buy" rel="noopener noreferrer nofollow">Michael Saylor’s Strategy kickstarts November with $45M Bitcoin buy</a>
At the time of writing, Wynn’s main account had a 40x leveraged short position worth $275,000 in Bitcoin, which would face liquidation if Bitcoin’s price recovers above $6,856.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-11/019a6d8c-2630-7b6a-ae38-46df24426522" title="" alt="James Wynn goes ‘all-in’ on shorting Bitcoin after 12 liquidations in 12 hours">
 <figcaption style="text-align: center;">
 James Wynn-related wallet “0x5078,” open positions. Source: Hyperdash
 </figcaption>
</figure>
Wynn opened the short position when Bitcoin was trading below $101,800 and faced an unrealized loss of $11,147 as of 11:20 am UTC on Monday, according to Hyperdash data.
The industry’s most successful traders, tracked as “<a href="https://cointelegraph.com/news/smart-money-hunting-meme-tokens-end-memecoin-supercycle" rel="noopener noreferrer nofollow">smart money</a>” traders on Nansen’s blockchain intelligence platform, are also positioning for more potential downside for Bitcoin.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2025-11/019a6d8c-27d9-74ae-abb8-e5c27c833991" title="" alt="James Wynn goes ‘all-in’ on shorting Bitcoin after 12 liquidations in 12 hours">
 <figcaption style="text-align: center;">
 Smart money traders top perpetual futures positions on Hyperliquid. Source: Nansen
 </figcaption>
</figure>
Most smart money traders were running short positions on Bitcoin, as the net perpetual short position on Hyperliquid reached $223 million on Monday, with $5.2 million worth of new shorts opened in the past 24 hours, <a href="https://app.nansen.ai/smart-money?tab=tokens&amp;chains=hyperliquid" rel="noopener noreferrer nofollow" target="_blank">according</a> to Nansen.<iframe width="100%" height="315" src="https://www.youtube.com/embed/FLwhQK3_iWw?start=" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen loading="lazy" sandbox="allow-scripts allow-same-origin allow-popups allow-forms"></iframe>
Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-big-move-ether-price-surge-dogecoin-xrp-solana-trade-secrets/" rel="noopener noreferrer nofollow">Bitcoin to see ‘one more big thrust’ to $150K, ETH pressure builds</a>

James Wynn goes ‘all-in’ on shorting Bitcoin after 12 liquidations in 12 hours

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