Prominent Hyperliquid trader James Wynn has executed a significant capital rotation, closing a highly profitable Bitcoin long position and shifting focus to Ethereum with maximum leverage. On-chain data reveals Wynn closed his BTC trade with a reported profit of approximately $87,594 as Bitcoin traded near the $90,000 resistance zone.
The closed Bitcoin position was substantial, involving over 120 BTC held with high leverage, giving it a multi-million-dollar value. The trade was originally opened when BTC moved above $93,000 after a period of sideways trading. Wynn exited in a single transaction, a move interpreted by market watchers as profit-taking rather than a bearish outlook on Bitcoin. This action freed capital for new opportunities while reducing downside risk amid rising volatility.
Following the BTC closure, Wynn immediately opened a new Ethereum long position with 25x leverage, with ETH trading around the mid-$3,200 range. This signals a short-term tactical preference for Ethereum. Alongside this move, Wynn continues to hold a leveraged long position in the meme coin PEPE, which currently shows a floating profit of roughly $172,000.
The trader's previous strategy, detailed in earlier activity, involved a highly structured, laddered entry into BTC between $91,350 and $91,566 using 21x leverage, alongside a sizable PEPE position that had generated over $335,000 in unrealized profit. His current portfolio shift demonstrates a rotation toward altcoins and speculative assets, indicating continued confidence in the crypto market outside of Bitcoin.
The activity is closely watched as Wynn's moves on Hyperliquid—a platform that saw its user base surge from 300,000 to 1.4 million in 2025—often influence short-term market sentiment.
