Bitcoin's Flash Crash Causes James Wynn to Lose $3 Million in Principal
According to on-chain data analyst Ember's monitoring, around 12:40 today, the BTC price briefly spiked to near the liquidation line of the whale James Wynn (around $107,000), with part of his position being stopped out, lowering the liquidation line, resulting in another loss of $2.95 million. Now, after giving back all $87 million in profits, James Wynn has lost $3 million of his principal. His current position: 40x leverage long on 4,604 BTC; position value $496 million; entry price $108,334, liquidation price $106,314.
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