Bitcoin New High Night "Billion-Level Showdown": Whale High-Leverage Long and Short Spectacular Clash Review

Original author: Fairy, ChainCatcher

Original text editor: TB, ChainCatcher

Last night, as Bitcoin was gearing up to break its historical high, an “illion-level showdown” took place on-chain with a battle between bulls and bears.

Two aggressive style trading giants, who are making heavy bets, are facing off: on one side is the legendary trader James Wynn, and on the other is the high win-rate player known as “Hyperliquid 5 0x Insider Brother.” The two have offered a 40x leverage BTC counter position, instantly attracting high market attention.

Leverage amplifies profits, but it also amplifies greed. Let’s review the ins and outs of this late-night battle together.

Who are they?

James Wynn, a bull player, was once hailed as the “legendary meme coin hunter” on the chain. His trading started extremely low-key, initially just a “10 U God of War”, and the amount of wallet interactions hovered in the range of tens of dollars. But in the midst of the PEPE craze, he suddenly changed his style, became aggressive, and became famous. James Wynn earned more than $25 million from his initial investment of $7,644 on the basis of PEPE’s skyrocketing market.

James Wynn’s contract style can be summarized in three key words: large positions, high leverage, and high frequency. Almost every time he opened a position, it was accompanied by a shouting order. Recently, in the BTC long order, he shouted many times that “$100,000 in bitcoin is very cheap”.

The background of the bears “Hyperliquid 5 0x Insider” is even more bizarre. Since January of this year, multiple addresses behind it have frequently used high leverage on GMX, with a cumulative profit of about $2.53 million. He is active on gambling platforms Roobet and AlphaPo, has a history of interacting with ChangeNOW, a popular exchange for hackers, and single-handedly snatched $1.8 million from the Hyperliquid platform. (Related reading: Even the exchange is cut if you are ruthless!) How did Hyperliquid get $1.8 million? ）

As for his real identity, ZachXBT once posted that this “insider brother” is likely to be related to William Parker (WP). WP is a “professional gambler” with a history of fraud who was arrested in Finland for stealing a total of $1 million from two online casinos in 2023. He has repeatedly made headlines in the UK for hacking and gambling-related fraud.

Battle Review

According to the data provided by on-chain analyst Ai Yi, a legendary duel quietly began on the chain in the early hours of May 21.

⏰ 2 AM - 4 AM: Two players increase their positions

At 2 AM, James Wynn took the lead, increasing the 40x leveraged BTC long position to 7764.26 BTC (worth approximately 830 million USD).

• Opening Price: $ 105, 033.4
• Liquidation Price: $ 100, 330
• Floating profit at that time: approximately 16.59 million USD

At 4 AM, Insider Brother entered short, fully betting on the trend. When BTC reached a short-term high, he opened a 40x short position.

• Position Size: 826.18 BTC (approximately 88.41 million USD)
• Opening price: $ 107, 091.9
• Liquidation Price: $ 108, 500
• Unrealized profit at that time: $68,000

! Bitcoin New High Night “100 Million Showdown”: Whale High Leverage Long and Short Wonderful Confrontation Review

Source of the image: Ai Aunt

⏰ 2 PM: BTC breaks $107,500, divergence begins to appear

The performance of both sides’ positions has started to diverge:

• James Wynn: Long position floating profit rises to 19.83 million US dollars
• Insider Brother: Short position floating loss of 375,000 USD

⏰ 3:00 PM to 6:30 PM: James Wynn takes partial profits, positions continually decrease

• 3 points: Long position reduced to 43 BTC, floating profit of 9.43 million USD, realized profit of 10.48 million.
• 4 PM: Continue reducing positions to 26 BTC, floating profit of 7.68 million USD, realized profit of 11.92 million
• 6:30: Closed part of the position again, leaving only 86 BTC, unrealized profit decreased to 2.72 million USD, cumulative realized profit of 14.57 million USD

As a result, James Wynn’s long position has decreased from a peak of 832 million to 268 million dollars, gradually locking in profits.

⏰ 9 PM: The front line is temporarily stable, James Wynn is quietly holding positions, Insider Brother has not acted

BTC retraced to $106,500.

• James Wynn did not immediately increase his position, holding a long position: 58 BTC ($193 million), with an unrealized profit of $2.65 million and realized profits of $15.42 million.
• Insider’s short position: 18 BTC, unrealized profit of 542,000 USD

⏰ After 11 o’clock: Peak collision, both increase positions, the gunpowder smell is full

As BTC breaks through $108,000, James Wynn increases his position to a historic high, while Insider Brother also deposits more margin to short again:

James Wynn

• Increase position to 97 BTC (815 million USD)
• New position average price: $ 107, 726.7
• Liquidation Price: $ 101, 420
• Current floating profit: 13.46 million USD

Insider Brother

• Increase short position to 4 BTC (65.43 million USD)
• Opening price: $ 108, 185.5
• Settlement price increased to: $ 112,320 (Supplement 2 million USDC margin)
• Current unrealized loss: 60,000 USD

⏰ 11:30 PM to midnight: Historical level face-off, positions exceed one billion

Close to 11:30, James Wynn’s long position broke through 860 million dollars, with the liquidation price raised to $101,980; Insider’s short position expanded to 101 million dollars, with a liquidation price of $110,780.

Around 11:45, James Wynn’s long position approached 900 million.

Close to midnight: James Wynn’s position breaks one billion, reaching the peak of this round, the showdown between the two heroes reaches its climax.

May 22 Morning Battle Report: James Achieves Total Victory

BTC experienced significant fluctuations and broke through 110,000, reaching a historical high.

James Wynn increased his long position to 10,200 BTC, valued at 1.12 billion USD, with an unrealized profit of 20.19 million USD.

Insider originally had a significant floating profit on a short position, but continued to increase holdings in the $106,670-$107,410 range and missed the opportunity to take profit, resulting in a cumulative loss of $5.61 million over 24 hours, still holding 449.43 BTC of the 40x short position.

Between Victory and Defeat, See the Sharp Edge of Leverage

James Wynn wrote down the victory, while Insider Brother paid the price for greed and hesitation. This “billion-level showdown” not only exploded the data side, but also rang the dual alarm of risk and discipline for the market.

Similar games may be playing out around you and me. Currently, the BTC contract open interest has soared to a historical high of 80.263 billion USD. In the past 24 hours, the total liquidation amount in the crypto market has reached 407 million USD, with short liquidations at 240 million and long liquidations at 167 million.

With high leverage, floating profits and liquidation are only a line apart.

Original link