Liquidations Pile Up Amid Market Whiplash
Blockchain tracking platforms Hyperdash and Lookonchain recorded multiple liquidation events tied to Wynn’s main wallet within the past 24 hours. The account’s value reportedly fell below $5,500, reflecting dozens of forced position closures as Bitcoin continued its climb.
Data shows Wynn was liquidated 12 times in just half a day, extending a two-month streak of losses that has seen him suffer 45 liquidations overall. Before the rebound, he had amassed a large series of short positions on Bitcoin — leveraged bets that the world’s largest cryptocurrency would keep falling.
Instead, a surge in optimism over the possible end of the U.S. government shutdown fueled a rally that caught short sellers off guard. Within hours, Bitcoin broke above $106,000, and the liquidation cascade began.
