---
title: "This Trader Bet $1B on Bitcoin, Says Asset Is Dying to Break Out Higher"
url: https://diffcoin.com/this-trader-bet-1b-on-bitcoin-says-asset-is-dying-to-break-out-higher/
description: "Wynn entered the long Bitcoin position about a week ago with less than $390 million and has grown the bet to more than $1.1 billion."
published: 2025-05-23
updated: 2025-05-23
author: "Mila"
site: "Diffcoin"
---

# This Trader Bet $1B on Bitcoin, Says Asset Is Dying to Break Out Higher

Bitcoin (BTC) has been on a roll in the past few days, surpassing its previous all-time high (ATH) and recording a new one above $111,900. While the crypto asset continues on this price trajectory, some traders are betting big on its next targets.

One whale, the pseudonymous investor James Wynn, has bet $1.1 billion on BTC with 40x leverage on the decentralized layer-1 chain HyperLiquid. He has lived up to his reputation as a high-risk leverage trader and meme coin maxi by consistently increasing his exposure to BTC and other projects (including Ethereum, Sui, and Pepe) that he believes have potential.

## Trader Bets Big on BTC

Wynn entered the long Bitcoin position about a week ago with less than $390 million and an average price of roughly $103,000. The bet initially had a liquidation price of $96,600 and a margin of $9.7 million.

As the price of BTC rose, the whale continued to increase his position on the bet. A series of tweets from the market analytics platform Lookonchain revealed that the bet eventually increased to $415 million, $673 million, and even $900 million. At $900 million, Wynn’s bet ranked first on HyperLiquid, surpassing the combined positions of the next six traders.

On May 21, the position exceeded 10,000 BTC and became worth $1.1 billion. After bitcoin broke through $111,900, the bet surged to $1.14 billion and was sitting on an unrealized profit of more than $39 million.

## Wynn Sits on $14M Unrealized Profit

As Wynn increased his bet, he also took profits, with his latest sale on May 22 – $60 million worth of BTC to realize a profit of $1.5 million. BTC has retraced a bit since hitting an ATH, so the value of the bet has declined to around $800 million. However, at the time of writing, he was still sitting on an unrealized profit of at least $14 million despite having taken profits of more than $17 million.

Talking about his position and profit-taking strategy, Wynn said BTC is dying to break out higher. He believes the cryptocurrency could hit the $115,000 to $118,000 target by the end of next week or even within hours in the coming days.

The whale insists there is a major psychological support at $100,000. Once bitcoin tops around the $118,000 to $122,000 range, there will likely be a cool-off and some sideways movement. Afterward, the market could witness interesting trends as the altcoin season begins.

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