Lookonchain data shows he jumped in around a BTC price of $108,084 and set his “kill switch” just below $103,640—so if Bitcoin dips that far, the whole trade goes bye-bye. As of early Thursday, that bet was sitting on a cool $40 million in unrealized gains.
Bitcoin just broke through $111,900!
His trade isn’t without danger. If Bitcoin falls below $100,850, the position could be wiped out. Wynn has said he’d add more money rather than face liquidation. In turbulent markets, minor declines can be the trigger for cascade-like forced liquidations. Any substantial amount of money put into the market begs the question: If prices were to shift just a few percent in either direction, would serious losses be incurred?
Reportedly, the May chances of Bitcoin hitting $115,000 are pegged at 64% or thereabouts, as per Polymarket. Standard Chartered’s Geoff Kendrick also has a bullish view. He predicts Bitcoin could top $120,000 before the end of July. Those forecasts line up with Wynn’s own target of $115,000–$118,000 by the end of next week, and even $118,000–$122,000 shortly after.
Reduced position size today, took some profits around $110k -$111k.
Seemed like a nice spot to TP, and seems others are doing the same right now.
Bitcoin had reached about $111,800 on May 22, 2025, before the slight pullback. Traders pointing at rapid gains also warn of quick drops. On decentralized exchanges, the funding-rate costs might add up. Large orders on Hyperliquid might face slippage, which would move the market against Wynn should he try to unwind too quickly.
People see the trades and think its some high level stupid gambling kinda shit, and yes it is. But it is backed by my own thesis. Which in turn, is a calculated risk.
“People see this as high-level gambling, and yes it is,” Wynn said. He added that his bets rest on what he calls a solid thesis. Whether he’s right or wrong remains to be seen. For now, his willingness to risk large sums has drawn both admiration and caution from onlookers.
Featured image from Unsplash, chart from TradingView
