Bankrupt whale takes profit in BTC and shifts to ETH, what does heavy holding of 1,637 coins with 25x leverage mean

Renowned trader James Wynn once again draws market attention. This afternoon, the “bankrupt whale” who previously lost over $100 million on the Hyperliquid platform took profits on a BTC long position, netting $87,000, then turned around to go long ETH with 25x leverage, establishing a position of 1,637.53 ETH at an average price of $3,252.31. Meanwhile, he still maintains a 10x leveraged long position on kPEPE, with an unrealized profit of $169,000. What market signals are reflected behind this operation?

From Bankruptcy to Turnaround: The Key Turning Point

James Wynn’s name has become a special symbol in the crypto circle. A half-year ago, his $100 million loss left him nearly broke, but starting from early January this year, he began an astonishing rolling position journey with about $20,000 in rebate income. In just a few days, his account grew to the million-dollar level, with its peak value surpassing $800,000.

This recent BTC profit-taking and ETH building are crucial milestones in this recovery process. He is not conservatively holding onto profits but actively seizing the trend reversal.

Why Switch from BTC to ETH

Data shows that this choice is not without basis. According to the latest market data, ETH is currently priced at $3,249.14, with recent performance quite impressive.

A 7-day increase of 9.34% is considered quite good in the current market. In comparison, BTC’s performance over this period has been relatively stable. James Wynn’s logic might be: BTC has already yielded profits, while ETH has stronger momentum, so it’s better to chase the trend.

This approach reflects his signature trading style: not sticking to a single asset but following market hotspots, using high leverage to amplify short-term directional opportunities.

The Deeper Meaning of the Position Portfolio

More noteworthy is the composition of his holdings. He has positions in BTC (already closed), ETH (newly established), and kPEPE (continued holding), which reflects his layered understanding of the current market.

Mainstream coins stable, Meme coins for volatility

This strategic combination is quite clear: mainstream coins provide directional certainty and liquidity, while Meme coins aim for higher multipliers. The $169,000 unrealized profit on kPEPE proves that during PEPE’s recent 26% surge, his 10x leveraged long position gained significant returns.

Switching to ETH now continues this logic, shifting focus from BTC to the recently stronger-performing ETH.

Risks and Opportunities Under Extreme Leverage

Going long 1,637.53 ETH at 25x leverage is inherently aggressive. At an average price of $3,252, this position is worth about $5.32 million, but the actual capital invested might only be tens of thousands of dollars.

This means that a roughly 4% decline in ETH could trigger liquidation. Such volatility is not tolerable for conservative investors. But for professional traders like James Wynn, this high-risk, high-reward approach is precisely the tool he relies on to turn his fortunes around.

A Market Sentiment Indicator

The reason James Wynn’s moves attract attention is not only because of the scale but also because his actions have a market sentiment transmission effect. A trader who was once bankrupt and can turn around through high leverage in a short period indicates that current market opportunities are abundant, and risk appetite is rising.

His simultaneous increase in BTC and ETH holdings, along with continued Meme coin positions, reflects a bullish stance that, to some extent, signals on-chain large holders’ confidence in the current bull market.

Summary

James Wynn’s switch from BTC to ETH is essentially an active trend-following operation. On the basis of securing existing profits, he is allocating more chips to assets with stronger recent performance. This aggressive yet logical approach is at the core of his journey from bankruptcy to recovery.

For ordinary investors, his operations serve more as a market sentiment reference rather than direct trading advice. The game at 25x leverage is not for everyone, but his persistent bullish stance indeed reflects on-chain large holders’ confidence in the current market. ETH’s recent strength, coupled with such big players’ endorsement, may be worth paying attention to.