Major Crypto Investor Places $830M Long Bet as Bitcoin Eyes New Highs

A major crypto investor has made waves in the derivatives market, opening one of the largest long positions ever seen on a decentralized exchange.

According to blockchain data, a wallet linked to trader James Wynn opened a high-leverage Bitcoin position worth hundreds of millions—highlighting renewed confidence in the asset amid shifting market dynamics.

The trade, spotted on May 21 by on-chain analyst EmberCN, involved a leveraged long position on the Hyperliquid platform totaling 7,764 BTC, worth approximately $830 million at the time. With 40x leverage, the investor placed his liquidation threshold just under $100,330, suggesting a high-risk, high-conviction bet on Bitcoin’s continued rally.

Shortly after opening the trade, Wynn reportedly reduced his exposure by half—locking in roughly $400 million worth of gains—before reentering the market as prices hovered near his original entry. His positioning signals a bullish outlook, even as other major players appear to be betting against the trend.

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While Wynn builds exposure, analysts like Joao Wedson from Alphractal are observing a spike in short interest from other whales. One trader, known as Qwatio, opened a 40x leveraged short valued at over $88 million, indicating that sentiment remains divided among high-net-worth participants.

Bitcoin has recently broken through key resistance, briefly touching $107,000, its highest level since January’s record run. According to data from Sentora, nearly 99% of BTC holders are now in profit, reinforcing bullish momentum.

In parallel, U.S.-based spot Bitcoin ETFs have attracted substantial interest, drawing in $7 billion in net inflows since April, pointing to accelerating institutional adoption. Many market observers now believe this convergence of factors could pave the way for a push beyond $110,000, setting the stage for a potential new all-time high.

Alexander Stefanov