Prominent cryptocurrency investor James Wynn has significantly increased his short position in Bitcoin (BTC), bringing total exposure to $16.77 million.
A short position reflects a bearish market outlook, allowing investors to profit from declining asset prices by borrowing and selling cryptocurrency with plans to repurchase it later at lower prices.
The substantial scale of Wynn’s expanded position represents one of the largest individual bearish bets on Bitcoin observed recently, signaling heightened skepticism about near-term price performance in current market conditions.