James Wynn, a well-known trader, has recently changed his mind on Bitcoin ($BTC). As per the data from Onhain Lens, James Wynn has recently closed a Bitcoin ($BTC) short position just to open a long one. The on-chain analytics firm shared the details of James Wynn’s sentiment shift in a recent social media post.

James Wyn (@JamesWynnReal) closed his $BTC (40x) short position, booking a loss of $3,015.97, and opened a $BTC (40x) long position.https://t.co/YLnfptl7vw https://t.co/rdOZHREDNt pic.twitter.com/u6eQbcMJpu

Onchain Lens has pointed out that James Wynn has recently opened a Bitcoin ($BTC) long position after closing a short position. Based on the price performance of the flagship crypto asset, James Wynn has changed his decision. Particularly, the popular trader has witnessed a $3K loss in this $BTC short that compelled him to close it.

As a result of this loss in the short position, James Wynn now believes in the long-term performance of Bitcoin. In this respect, just after closing the short position, he has opened a long position. The closed short position reported had a 40x leverage, and he exited it following a trade spanning 6 hours and 30 minutes. The trader lost $3,015.97, taking into account $1,345.07 in terms of fees.

According to Onchain Lens, following the closure, the newly opened Bitcoin long position also has a 40x leverage. It currently holds almost 12.79 $BTC, equaling up to $1.37M. Apart from that, the present unrealized profit of the trader accounts for $2,420.04, including ROE of 7.05%.

Additionally, the entry price for the respective long position was nearly $107,439.10, while Bitcoin is currently trading at $107,716.00. Moreover, 93.37% is James Wynn’s margin usage while the long exposure stands at 100%.

203 +