Bitcoin recently achieved a peak price of nearly $107,000, marking a significant increase for the cryptocurrency since last week. This rapid rise has had severe consequences for traders holding leveraged positions. One notable case is that of a trader known as James Wynn, who reportedly suffered twelve liquidations within a mere twelve-hour timeframe. Sources from Lookonchain highlighted this alarming trend in Wynn’s trading behavior.

“Due to the market rebound, James Wynn got liquidated 12 times again in the last 12 hours!” (Translation: Because of the market recovery, James Wynn was liquidated twelve additional times in just twelve hours!)

James has faced a staggering forty-five liquidations in just two months. Although he managed to secure a single profitable trade recently, instead of capitalizing on that success, he chose to increase his investment.

In just half a day’s trading, Wynn’s losses exceeded $85,410, leaving him with a mere $6,010 in his account.

This string of liquidations coincided with Bitcoin’s ascent from beneath the $102,000 mark, soaring to a multi-day high of almost $107,000 thanks to an unexpected pledge from the U.S. President. Recently, Donald Trump promised that many Americans, regardless of income level, would receive dividends of at least $2,000, a scenario that appears to correlate with increased investment in crypto markets.

The altcoin market mirrored this upward trend, with several notable coins seeing significant growth, including WLFI (up nearly 30%), PUMP (16%), ZEC (16%), and UNI (14%).

According to CoinGlass, total liquidations for that day reached around $360 million, with shorts accounting for over $260 million of that total, affecting approximately 120,000 traders.