Bitcoin Trader Flips $1.25B Long to Short as BTC Dips
Bitcoin Trader Flips $1.25B Long to Short as BTC Dips Below $108K
Bitcoin is drifting further away from its recent all-time highs as U.S. trade tariffs weigh on market sentiment. Despite this, traders remain confident that even lower price retests won’t break the overall bullish trend.
Top trader James Wynn has made headlines by closing a massive $1.25 billion Bitcoin long position and opening a new short worth around $110 million.
BTC/USD 1-hour chart. Source: TradingView
Trump’s Tariff Talk Pressures Bitcoin
Bitcoin failed to hold the $108,000 mark heading into the May 25 weekly close, with price action struggling under the weight of new U.S. trade war developments.
Comments from former U.S. President Donald Trump about imposing 50% tariffs on EU goods triggered sharp market reactions, halting Bitcoin’s price discovery near its $112,000 record high. Additional news targeting tech companies further fueled the pressure, with traders pointing fingers at Trump’s influence over market volatility.
Source: Truth Social
Keith Alan, co-founder of trading resource Material Indicators, called the political noise “more hot air from the Manipulator in Chief.” Still, Alan remained optimistic, noting that Bitcoin has plenty of room to retest support zones without damaging its long-term bullish structure.
He highlighted key technical levels like the MACRO trend line and major moving averages converging around the 2025 yearly open near $93,500. “As long as BTC is trading above that zone, the bull trend is still intact,” Alan said.
Other traders echoed this sentiment. Crypto Tony suggested that even if Bitcoin drops another $4,000 by the weekly close, the bull run remains safe.
Meanwhile, trader Merlijn pointed to a fresh CME Bitcoin futures gap at $107,230, noting, “These gaps don’t stay open for long. Expect price to come back and fill it.”
Wynn’s Surprise Move Catches Market Attention
In a move that surprised many market watchers, James Wynn, a major player on the Hyperliquid platform, flipped his stance over the weekend. Previously holding a $1.25 billion long position, Wynn closed out the trade after recent volatility and opened a $110 million short instead.
Research groups tracking the action noted the shift in real time. “That’s a lot of trading for an illiquid, choppy weekend,” trader Daan Crypto Trades commented on X.
Despite the sudden flip, many traders believe Bitcoin’s long-term bull momentum remains intact — but the short-term ride might get bumpier before the next leg up.
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