James Wynn, recognized for his high-leverage trading tactics, has stated he is “all-in” on Bitcoin short positions, wagering on a decline below $92,000 despite the recent optimism following the potential end of the US government shutdown.

His account faced twelve liquidations in just 12 hours, resulting in significant losses. Reports indicate that his financial assets dwindled to about $5,422 after the sudden market recovery.

Trader’s Risky Strategy

Despite these challenges, Wynn is doubling down. He has opted to transfer all his stablecoin funds into short positions, illustrating a confidence in Bitcoin’s imminent drop. “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,” Wynn expressed in a recent social media post, stating further:

“I’m either going to make hundreds of millions from my leverage short positions or I will go bust.”

At the time of this update, his primary account showcased a leveraged short position of approximately $275,000 in Bitcoin, which is highly vulnerable should Bitcoin’s value exceed $6,856.

With the sharp fluctuations in Bitcoin’s value, many traders are preparing for potential downsides, leading the net perpetual short position on prominent trading platforms to accumulate significant amounts as investors brace for market instability.