A mysterious investor has opened a $300 – million – worth leveraged bitcoin position, sparking speculation about their identity.
According to Hypurr Scan blockchain data, the unknown “whale” opened a 20x leveraged bitcoin (BTC) long position worth over $308 million at an entry price of $108,100. Currently, this position shows an unrealized profit of more than $4 million and will face liquidation if the bitcoin price drops below $105,780.
This trade comes just days after James Wynn, a well – known leverage trader, had his second $100 – million – leveraged bitcoin position liquidated, resulting in a loss of nearly $25 million. Hours before the mysterious whale’s trade, Wynn announced on June 10 that he was returning to the market under an anonymous account, without specifying the wallet address. The blockchain data platform Onchain Lens also suggested that Wynn might be behind the $300 – million leveraged long.
Wynn has claimed that after opening his second $100 – million leveraged bitcoin position, his liquidation level was being deliberately targeted by major market participants. He also said that some of his personal accounts on cryptocurrency exchanges were “closed overnight” for no apparent reason.
However, the identity of the mysterious whale remains uncertain. Coincidentally, this $300 – million bet comes at a time when there is a renewed “wave of institutional breakthroughs” for bitcoin. Corporate treasury activity in relation to bitcoin is expanding, and on June 9, spot bitcoin exchange – traded funds recorded net positive inflows of $386 million, recovering from a two – day sell – off. Some experts believe that the structural inflows from ETFs and institutions may help bitcoin surpass the $200,000 “base case” by the end of 2025.
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