High-profile crypto trader James Wynn has begun paring down his Bitcoin holdings after riding the latest wave to new all-time highs.
Posting to X, Wynn revealed that he began locking in profits as BTC traded between $110K and $111K, citing gains totaling $46 million from his positions.
Despite the slight retreat, he remains bullish in the short term, predicting Bitcoin could still climb to $118K or higher, followed by a consolidation phase that may open the door for altcoins to rally.
“Once BTC cools off near $122K, we’re likely looking at the start of alt season,” he commented.
Wynn is now pivoting toward Ethereum, opening a bold 25x long position worth over $60 million at an entry point of $2,666. The trade is already showing early gains, per blockchain analytics platform Lookonchain.
He’s also actively positioned in kPEPE, holding a $26.7 million leveraged long, currently in profit. However, not all trades are going his way—his SUI position, entered at $3.97 with 10x leverage, is currently showing a loss approaching $500K.
Wynn’s aggressive positioning suggests growing confidence in a coming altcoin breakout, fueled by capital rotation following Bitcoin’s surge.
The crypto market is showing signs of cautious optimism. While prices remain elevated, sentiment indicators and trading activity suggest investors are stepping back to reassess risks rather than diving in further.
Citigroup analysts say the key to Bitcoin’s future isn’t mining cycles or halving math—it’s ETF inflows.
A wave of bullish momentum is sweeping through smaller-cap altcoins, with ResearchCoin (RSC), Electroneum (ETN), and REI Network (REI) all recording substantial 24-hour gains.
XRP is drawing fresh investor attention as optimism builds around its legal standing and potential exchange-traded products (ETPs).