Hyperliquid Dominates as Trader Places $23M Leveraged Bets Amid Market Breakout

Prominent high-leverage trader James Wynn has reemerged with bold new positions on Hyperliquid, opening a $12 million 25x leveraged long on Ethereum alongside a $11.28 million 10x PEPE position – totaling over $23 million in high-risk exposure.

The Ethereum trade involves 3,269 ETH with a $3,726.28 entry point, while his PEPE position controls 812.16 million tokens entered at $0.01358. Wynn funded these positions with a 536,573 USDC deposit, signaling renewed confidence after a disastrous May-June period that saw $100 million in Bitcoin positions liquidated.

Can you believe it? James Wynn just flexed with a massive $536K USDC deposit into Hyperliquid, taking on a wild ride with 25x long on $ETH and 10x long on $PEPE! 🚀 Holding strong with 3,269 ETH ($12.12M) and 812.16M kPEPE ($11.28M). pic.twitter.com/PHFZJ8d6Xf

— Whale 🐳 (@debottomcatcher) July 20, 2025

His return coincides with Ethereum’s 20% weekly surge, which has triggered one of crypto’s most violent short squeezes in recent history. The aggressive trades mark a dramatic comeback for Wynn, who had retreated from social media following his catastrophic losses earlier this month.

Market observers now watch whether these high-stakes bets will redeem Wynn’s trading reputation or compound his recent setbacks, as the crypto markets continue exhibiting extreme volatility. The positions demonstrate both the trader’s risk appetite and the amplified opportunities (and dangers) of hyper-liquid derivatives markets.

 

Key Hyperliquid Levels to Watch – July 21

Hyperliquid’s price has decisively breached a critical resistance trendline on the daily chart, though the Stochastic indicator’s overbought condition at the time of breakout triggered a retracement into fair value gap territory. Notably, a robust bullish order block remains untested below current levels, potentially serving as a springboard for further upside. Despite the pullback, daily candles suggest bullish momentum may resume even before a retest of this support zone. Traders are now watching for a confirmed break of structure (BOS) above the recent high, which would validate continuation of the uptrend.

James Wynn’s high-stakes return to leveraged trading coincides with a technically pivotal moment for Hyperliquid’s market structure. As his $23 million Ethereum and PEPE positions test the waters of this volatile market, Hyperliquid’s price action demonstrates similar aggression—breaking key resistances while eyeing higher highs. For both the trader and the platform, the coming days will prove critical: Wynn seeks redemption from his $100 million liquidation, while Hyperliquid’s price must hold its bullish structure to confirm sustained upward momentum. These parallel narratives underscore the high-risk, high-reward nature of crypto’s leveraged trading arena, where fortunes can pivot on a single price swing.

HYPEUSD Key Levels

Resistance Levels: $49.84, $60.0, $70.0
Support Levels: $41.20, $28.20,$ 21.50

Hyperliquid Metrics

Total Market Capitalization: $3.94T
Hyperliquid Market Capitalization: $15.7B
Hyperliquid Volume: $416M
Market Rank: #11

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