Crypto Trader Records $5.5 Million Profit from BTC, ETH Price In Three Days, Here’s Everything to Know

Key Insights:

• Anonymous crypto trader generates $5.5 million profit by trading opposite to James Wynn’s positions.
• Mystery trader 0x2258 successfully executed a contrarian strategy over three days.
• James Wynn denies connection to profitable trader and calls reports “fake news.”

A crypto trader has generated $5.5 million in profits over just three days by using a contrarian strategy that involved taking opposite positions to well-known trader James Wynn. The anonymous trader, identified as 0x2258, executed precise timing on Bitcoin and Ethereum trades. At the same time, Wynn has denied any connection to the profitable account amid speculation.

Crypto Trader Mirrors James Wynn’s Moves for Massive Profits

The anonymous crypto trader 0x2258 executed a strategy by monitoring James Wynn’s trading positions and taking opposite trades at key moments. On May 24, trader 0x2258 started short positions on both Bitcoin and Ethereum, while James Wynn was holding long positions on Bitcoin.

When James Wynn terminated his long Bitcoin positions on May 25, the approach paid out. As a result, trader 0x2258 closed the associated short position, making a profit of $1.36 million.

The pattern continued when James Wynn switched from long to short on Bitcoin on May 25. The crypto trader 0x2258 immediately took the opposite approach and opened long positions on Bitcoin and Ethereum. This contrarian move generated another $2.54 million profit when the positions were closed on May 26 and coincided with James Wynn closing his short position.

On May 26, when James Wynn returned to long Bitcoin positions, trader 0x2258 again took the opposite side by shorting Bitcoin and Ethereum. This latest trade has already produced $1.7 million in unrealized profits. This brought the total three-day haul to $5.6 million.

James Wynn Denies Connection and Faces Trading Challenges

James Wynn has vehemently denied any connection to the profitable trader 0x2258. He also responded directly to the reports with strong objections. The crypto trader stated he was “not happy with this post at all” and clarified that he has no knowledge of who trader 0x2258 might be.

Wynn emphasized that he operates only one publicly visible account on Hyperliquid and accused reporters of spreading false information without verification.

Meanwhile, James Wynn has faced his own trading difficulties during the recent market volatility. When Bitcoin dropped below $108,000, the crypto trader was forced to close portions of his Bitcoin and PEPE long positions. He then took a $4.4 million loss to reduce his liquidation risk and avoid a complete position wipeout.

His current holdings include 5,782 Bitcoin worth approximately $626 million, with a liquidation price of $107,387.82. The position currently shows an unrealized loss of $10.5 million.

James Wynn is confident in his overall performance in spite of these setbacks. The cryptocurrency trader disclosed that his account began with about $3 million and peaked at about $100 million. He stated his resolve to restore the account to $100 million, with a current total profit of $13.3 million.

High-leverage Trading Sparks Volatility For Both Crypto Traders

The contrasting fortunes of trader 0x2258 and James Wynn show the extreme volatility that characterizes high-leverage cryptocurrency trading. James Wynn operates with 40x leverage, which amplifies both potential gains and losses. This creates the massive swings that have defined his trading account’s performance.

James Wynn acknowledged the intense volatility in his trading approach. He also noted that huge swings are inevitable when using such high leverage ratios. The crypto trader’s account has experienced major fluctuations. He started with approximately $3 million and reached nearly $100 million before experiencing recent setbacks.

The $4.4 million loss James Wynn took when closing portions of his positions shows how quickly fortunes can change in leveraged trading. His current unrealized loss of $10.5 million on his Bitcoin position, despite maintaining an overall profit of $13.3 million, shows the ongoing risks he faces with each market movement.

The post Crypto Trader Records $5.5 Million Profit from BTC, ETH Price In Three Days, Here’s Everything to Know appeared first on The Coin Republic.