Despite suffering 12 forced liquidations in just 12 hours, notorious high-leverage trader James Wynn continues to bet against Bitcoin. The wipeout occurred as the cryptocurrency sharply rebounded above $106,000, leaving Wynn’s account nearly drained and yet his bearish conviction remains unshaken.
? LATEST: James Wynn was liquidated 12 times in 12 hours, yet he’s still shorting Bitcoin.
“I’m all in.” pic.twitter.com/hmqZMVczto
— Cointelegraph (@Cointelegraph) November 10, 2025
A Brutal Losing Streak, With Numbers to Prove It
According to on-chain data tracker Lookonchain, Wynn’s primary trading account was liquidated 12 times overnight and into the morning of November 10, marking an extension of his disastrous streak , 45 liquidations in just two months.
Analysts reviewing the same data reported that Wynn’s remaining portfolio balance had dwindled to only a few thousand dollars, underscoring extreme leverage exposure and poor risk management.
This string of forced liquidations coincided with a violent market rebound, as Bitcoin surged past $106,000, triggering a wave of short squeezes across major derivatives exchanges. For a trader operating with 40x leverage, a move of just a few hundred dollars against their position can completely erase their margin.
Blockchain analytics link Wynn’s trading activity to the wallet 0x5078…eDb6 on Hyperliquid, showing high leverage ratios exceeding 40x, chronic drawdowns, and heavy cumulative losses throughout 2025. In short: an ultra-aggressive trader caught in the market move he feared most — a bullish squeeze.
Why the Market Turned Against Wynn
The timing of Bitcoin’s rebound wasn’t random. U.S. macro conditions briefly improved as reports surfaced of a bipartisan deal in the Senate to avert a federal government shutdown , a development that boosted risk appetite across global markets, including crypto.
Even without an official confirmation, the prospect of renewed fiscal stability encouraged traders to re-enter risk assets. Thin order books and overly confident short sellers below $100,000 set the stage for a rapid, liquidity-driven short squeeze.
As prices climbed, heavily leveraged short positions were forced to cover, fueling an even steeper rally , a self-reinforcing feedback loop well-known in volatile crypto markets.
In 2025, the crypto market has become highly sensitive to liquidity-related events , from U.S. fiscal policy and ETF approvals to cross-asset arbitrage shifts. The latest relief rally was largely psychological, with traders reacting more to sentiment than fundamentals.
Wynn Doubles Down Despite Mounting Losses
What’s most striking isn’t just Wynn’s losses. It’s his response. Despite repeated margin calls, he reportedly reallocated his remaining stablecoins to open new short positions, betting on a breakdown below $92,000.
I’m all-in.
I’m going to be completely and utterly honest here, and this is the gods honest truth.
I have sold my entire crypto portfolio (excluding long term $BTC spot that I will never sell).
And in the past few hours I have deployed all stables (30%) + and thrown it all…
— James Wynn (@JamesWynnReal) November 10, 2025
This “double down” strategy , increasing position size to recoup losses , dramatically increases risk. At 40x leverage, a 2.5% price move against the position triggers liquidation. Given Bitcoin’s frequent 3–5% intraday swings, Wynn’s setup leaves almost no room for survival.
Analysts note that Wynn even had a recent winning trade but refused to take profits, choosing instead to reload his short position. This mix of loss aversion and overconfidence has historically led to spectacular collapses in bull markets.
As one market observer quipped:
“In crypto, the price doesn’t need to be right to ruin you — it just needs to outlast your margin.”
