James Wynn, once praised as a bold and fearless crypto trader, is back in the spotlight—this time for taking a highly risky stance against the crypto market. While optimism is growing among traders following Bitcoin’s surge past $107,000, Wynn has a starkly different view. He believes the rally is nothing more than a setup for an imminent crash.

All-In on a High-Leverage Short

Despite losing a staggering $100 million on a single Bitcoin trade in late May, Wynn has not backed down. Instead of retreating, he has doubled down. Recently, he revealed that he’s entered a massive short position on Bitcoin, opening it at approximately $108,500 with 40x leverage spread across multiple exchanges. According to Wynn, this strategy helps him avoid what he calls “the cabal”—a group of powerful market players he accuses of manipulating prices.

Following his initial short, Wynn took over $50 million in profit as Bitcoin briefly dipped to the $100,000–$101,000 range. Now, he’s back with an even more aggressive short position, signaling his unwavering belief that a significant correction is on the horizon.

A Warning of “Fake Pumps” and Incoming Panic

Wynn is openly skeptical of the recent price movement. He claims the current surge is a “completely fake pump” and warns that “violent red candles” are coming. In his view, the market is on the verge of a steep drop, and traders who are not prepared could face devastating losses as panic sets in.

Not a Pro—Just a Gambler

Interestingly, Wynn makes no claims of being a professional. He describes his trading approach as “gambling” and admits to using little to no risk management. He even cautions others not to follow his lead, emphasizing that his high-risk strategy is not for the average investor.

Altcoins, Meme Tokens, and New Bets

Beyond Bitcoin, Wynn is also placing large bets on altcoins and meme tokens, hoping to catch a new wave of volatility. He recently launched a new wallet and has begun trading both Bitcoin and PEPE. These trades have already resulted in more than $2 million in unrealized gains.

While many watch the market with cautious optimism, James Wynn continues to defy conventional logic—either setting himself up for another big win or risking another massive fall.