Crypto trader James Wynn, who’s been in the news for his high-leverage bets, has lost a staggering $99 million in the past two days with his Bitcoin bets falling flat on his face. With BTC price taking a dip under $105K, Wynn was forced to close all his positions, leading to huge liquidations. On the other hand, a smart crypto trader, betting against Wynn, managed to mint $17 million in the same time. How Did James Wynn Lose $99 Million in Bitcoin Bets? Crypto trader Wynn gained popularity in the crypto circle while taking his profits from just $500K capital to a massive $87 million in just two months, through his high-leverage bets on PEPE, TRUMP, and FARTCOIN. However, he continued with the same huge leverage bets on BTC, putting all the profits at stake, and losing a massive $99 million in just a week’s time. James Wynn Bitcoin Liquidation… Read More at Coingape.com
Hyperliquid’s native crypto token HYPE has recently experienced a significant 40% price decline. However, the altcoin is showing signs of recovery.
Traders have become increasingly bullish on HYPE, with many believing it can regain the losses sustained in the recent downturn. This renewed confidence, supported by positive market movements, has sparked hopes of a price rebound.
Hyperliquid Finds Strong Support
Over the past 24 hours, the Open Interest for Hyperliquid has risen by $44 million, bringing the total to $428 million. This increase follows a recent uptick in price, which added momentum to the ongoing recovery.
The growth in Open Interest suggests that traders are becoming more confident in HYPE’s potential for a price rise. This influx of interest has fueled optimism among investors and traders alike, with many viewing this as a sign of further upside.
As a result, there is a renewed sense of enthusiasm among HYPE enthusiasts, who believe the altcoin is well-positioned to reclaim lost value. This positive sentiment could contribute to continued price growth, particularly as market conditions remain favorable for a recovery.
The overall macro momentum of Hyperliquid has shown significant improvement in recent days. Key technical indicators, such as the Moving Average Convergence Divergence (MACD), reflect a shift from a bearish to a bullish trend this week.
This change marks the end of a month-long bearish crossover and signals the potential for further upward momentum.
As the bullish momentum rises, it provides HYPE with the room needed to continue its recovery. The shift in the MACD reflects a positive shift in market sentiment, suggesting that the altcoin may be in a stronger position moving forward.
HYPE’s price is currently trading at $16.10, up by 14% over the last 24 hours. The altcoin is just under the $16.50 resistance level, having already recovered about half of its recent 40% decline. This price movement shows that Hyperliquid has significant upside potential.
Given the current momentum, there is a possibility that HYPE will breach the $16.50 barrier and continue its upward trajectory. If this occurs, the altcoin could move toward $19.16, potentially reaching $20.00 in the near future.
However, if the $16.50 resistance level proves too strong, HYPE may struggle to maintain its upward momentum. In this case, the price could fall back to $13.44, invalidating the bullish outlook and erasing recent gains.
In the latest development in the blockchain space, Cardano founder Charles Hoskinson shared his thoughts on Ethereum’s potential demise, prompting a reaction from pro-XRP lawyer John Deaton.
Notably, Charles Hoskinson projected the Ethereum blockchain’s possible downfall, commenting that the platform would not survive over the next decade. Acknowledging Hoskinson’s Ethereum roots, John Deaton appreciated his comments as particularly noteworthy.
The Future of Ethereum: Insights from John Deaton and Charles Hoskinson
Recently, the Cardano founder, Charles Hoskinson, predicted that the Ethereum network will collapse in the next 10-15 years. He noted, “So, I don’t think Ethereum will survive, you know, more than 10 years to 15 years.”
In response to his words, XRP attorney John Deaton shared a thread on X. John Deaton acknowledged Hoskinson’s words as insightful and particularly significant, given Hoskinson’s foundational role in Ethereum’s creation.
Deaton also expressed curiosity about others’ thoughts on Ethereum’s future, humbly acknowledging the limitations of his own knowledge on the subject. His X post read,
Fascinating to listen to an Ethereum co-founder opine on whether Ether can even survive. I’m not smart enough to have an opinion one way or the other but would like to know what others think.
Why Ethereum Might Not Last 15 More Years? Charles Hoskinson Explains
In a recent Ask Me Anything (AMA) session yesterday, the Cardano founder expressed concerns about the long-term viability of the Ethereum blockchain. Highlighting the platform’s key mistakes, Hoskinson posited that Ethereum would not exist after some 15 years. This has sparked comments from John Deaton.
Protocol & Consensus Model: According to Hoskinson, Ethereum’s choice of protocol and consensus model is not sufficient for the network’s needs. In particular, he mentions the current limitations of Ethereum’s Proof-of-Stake (PoS) mechanism.
Layer 2 Scaling Solutions: The Cardano founder slams the blockchain’s adoption of layer 2 scaling solutions, addressing them as “parasitic.”
Governance System: As per Hoskinson, the Ethereum network’s governance system is unsound. He pointed out that the platform’s governance is off-chain, but not on-chain, which could lead to inefficiencies in decision-making and adaptability.
John Deaton’s latest comments on the Cardano founder’s insights on Ethereum come following the former’s recent criticism of Oregon AG Rayfield. The XRP lawyer questioned the AG’s motivations for filing a lawsuit against Coinbase with outdated claims.
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee and watch this space. Analysts say the next big move for Bitcoin (BTC) may be closer than it looks. With technical signals flashing and macro forces shifting, analysts are starting to lean bullish.
Crypto News of the Day: Bollinger Eyes Breakout as Macro Tailwinds Gather
Bitcoin is drawing renewed attention from analysts, with John Bollinger, the inventor of the Bollinger Bands indicator, sounding the alarm for a potential breakout.
Bitcoin looks to be setting up for an upside breakout. $BTCUSD More as the week gets going.
Bollinger’s post suggests technical momentum is building, with macro and political developments aligning with bullish setups.
Nic Puckrin, founder of The Coin Bureau, believes the US Senate’s passage of Trump’s $3.3 trillion Big Beautiful Bill has set the stage for long-term Bitcoin gains despite markets not reacting immediately.
“Trump’s ‘Big Beautiful Bill’ has passed in the US Senate, but has failed to immediately ignite a significant crypto rally…But while markets are still digesting its implications, the long-term impact is clearly nothing but positive for Bitcoin,” Puckrin told BeInCrypto.
According to Puckrin, the bill will add trillions to the US debt load, which, as BeInCrypto reported in a recent US Crypto News publication, positions Bitcoin as a life raft. Puckrin says this could accelerate the decline of the US dollar.
“A depreciating dollar creates the perfect environment for Bitcoin,” he added.
In a recent US Crypto News publication, BeInCrypto reported that the dollar index (DXY) posted a multi-year low. This came amid its worst start to a year since 1973, with interest rate cuts back on the table.
Puckrin sees the environment shifting decisively in Bitcoin’s favor, acknowledging that once the liquidity floodgates open, even $107,000 per BTC would feel like a deep discount.
Bitcoin Price Resistance Holds, But Market Eyes $110,500 Break
Despite the growing bullish sentiment, Bitcoin remains locked in a tight trading range between $107,000 and $110,000. The pioneer crypto faces immediate resistance at $109,500.
However, that move quickly lost steam as the market’s momentum remained muted. While Bitcoin’s long-term bullish setup is intact, spot demand continues to lag.
The pioneer crypto’s price action reflects this tension between strong fundamentals and macroeconomic uncertainty.
“Spot demand has been waning in recent times… weighing heavily on market sentiment…Bitcoin’s broader technical and bullish market position has remained structurally intact,” said Shawn Young, Chief Analyst at MEXC Research, in a statement to BeInCrypto.
The upcoming US tariff deadline and the colloquial “Crypto Week” in Congress, where digital asset bills are set for debate, could inject volatility and act as breakout triggers.
According to MEXC, a clean move above $110,500, backed by volume, would “validate the bullish setup and pave the way for a potential push to make new highs.
If macro conditions align, the analyst predicts a play to $125,000 in Q3 for Bitcoin and even $140,000 by year-end. This is modest compared to what Standard Chartered predicted in a previous US Crypto News publication.
“These developments [Bitcoin ETF flows, corporate treasury buying, a potential announcement by President Trump of Fed Chair Powell’s early replacement, and passage of the US stablecoin bill] along with further evidence of broader sovereign interest, should push Bitcoin to a new all-time high of around $135,000 in and $200,000 in Q4,” Standard Chartered Head of Digital Assets Research Geoff Kendrick said in a statement to BeInCrypto.
Chart of the Day
The chart below shows the BTC/USDT trading pair in the one-day timeframe. With Bitcoin between the middle and upper Bollinger band ($111,019), this indicates a potential continuation of an uptrend.
A break above the upper band could see Bitcoin test the $111,800 all-time high (ATH), potentially establishing a new peak.
Technical indicators align with the 50-day Simple Moving Average (SMA), providing initial support at $106,584 (yellow strand).
Meanwhile, the volume profile (yellow bars on the side) suggests significant bullish momentum, with traders waiting to interact with the BTC price upon any drop, potentially as low as $100,000.
The Relative Strength Index (RSI) at 54.34 adds credence to the bullish thesis, showing more room for the upside before BTC is considered overbought.
Conversely, if Bitcoin drops below the midline of the Bollinger band ($106,456), it would signal a trend reversal, with a breakdown below the lower band ($101,893) likely exacerbating the downtrend.
However, BTC must drop below the 100-day SMA at $99,026 to confirm a trend reversal from the prevailing uptrend.
Byte-Sized Alpha
Here’s a summary of more US crypto news to follow today:
