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James Wynn made $473.9K by shorting BTC, HYPE and using high leverage with Hyperliquid.
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On July 17, Bitcoin traded in a range between $117,506 to $119,244, indicating low volume and no breakout.
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HYPE closed on Friday at $46.11 after failing above $47. The daily chart shows intraday rejection.
According to Lookonchain, James Wynn made $473.900 in one single day by shorting BTC on Hyperliquid and HYPE, according on-chain data.
The trades were made on 17 July, after Wynn reportedly changed from long positions due to an earlier liquidation. The pivot was a successful trading strategy that took advantage of a market that was stalling.
James Wynn’s Winning Trade
According to Lookonchain Wynn used leverage of 40x on BTC, and 10x on his HYPE Short on the derivatives platform Hyperliquid. The trades were closed and executed within a 24 hour window. This move was made just two days after Wynn had deposited $467.999 into Hyperliquid to enable the short positions.
Lookonchain tracked his activity via his wallet address. It confirmed the deposit, the position changes, and the final balance update. The exact entry and exit prices weren’t disclosed, but onchain verified the profit.
Related: What boosted BTC growth in the past 2 weeks?
Wynn’s trading information was recorded without any comments or quotes from Hyperliquid, Lookonchain or other sources.
BTC trades below local highs with low volume
Wynn’s short was perfectly timed with a cooling down in the crypto market. Bitcoin traded between $117.506 and $119.244 on July 17, 2025. The price closed at $118.721, a close that shows little change from the previous day. Only 864 BTC were traded on Bitstamp.
Bitcoin remained above its 50-day EMA of $109,022, which stood at $109,000. The price moved within a narrow range just below the recent local peak of $120,000. Neither a breakout nor a sharp drop occurred in the day.
Related: New Nasdaq-listed company, Hyperliquid Strategies to Hold $583M HYPE Tokens
This type of price movement often shows that buyers hesitate when they reach resistance. A low volume and a small candle on a daily basis suggest a pause after a long rally.
HYPE Rejects Above $47 After Intraday Spike
The HYPE token has also shown signs of weakness. HYPE traded from $45.51 to $47.34 on 17 July 2025 and closed at $46.11, down 1.78% for the day. The token briefly rose above $47, but failed to maintain those levels at the close.
The daily trading volume of 467,630 tokens was slightly below the recent average. The price remained above the 50-day EMA of $38.74 to maintain the overall trend.
The daily candle’s long upper wick shows that sellers stepped in at the peak. This type of movement is often a sign of short-term rejection following an extended upward push.
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