James's Counterparty "Insider Trader" Increases Short Position on BTC by $4.97 Million Five Hours Ago

According to Jinse Finance, on-chain data analyst Yujin has monitored that the so-called "insider trader" address (AKA, not conclusive evidence) that opened a counterparty short position against James Wynn at the end of May has once again increased its BTC short position five hours ago. Reportedly, this address opened a 40x leveraged BTC short on May 21, using 7.3 million USDC as margin to short BTC at an entry price of $107,192. Since then, as BTC began to rise, the short position has been continuously liquidated and forcibly reduced, but the trader has never closed the position or admitted defeat. Five hours ago, the trader transferred another $4.97 million to Hyperliquid to continue increasing the short position. Currently, the position is valued at $115 million, with an entry price of $107,766 and a liquidation price of $110,826. However, since a total margin of $12.27 million has been used and the current net value of the position is $9.16 million, the trader is still facing an unrealized loss of $3.11 million.