Trader James W Shorts $1.25 Billion in Bitcoin as Price Drops Below $108,000

In a significant move within the cryptocurrency market, a prominent trader, James W, has reversed a $1.25 billion Bitcoin position, shifting from a long to a short stance. This decision comes as the price of Bitcoin dipped below $108,000, prompting a bearish outlook among traders.

W executed a short position of 1,038.7 Bitcoins at a price of $107,711.1 on the Hyperliquid platform. The data suggests that the liquidation price for this position is set at $149,000, indicating W's belief that Bitcoin's value will continue to decline further than its current level.

Prior to this shift, W held a long position worth $110 million, which was terminated to initiate the short position. This move was a response to the recent decline in Bitcoin's price, which fell below the $108,000 mark. The trader's portfolio, valued at $49.4 billion, includes $44.9 billion in perpetual futures, $6.5 million in spot assets, and $6.5 million in staked assets. The short position, leveraged at 40x, amplifies the potential gains or losses based on Bitcoin's price movements.

On May 24, 2025, Bitcoin reached a high of $111,827 but struggled to maintain that level. The subsequent drop below $108,000 led several traders, including W, to adopt a pessimistic stance. This market activity reflects the high stakes and volatility inherent in cryptocurrency trading. W's short position of $111.8 million could yield significant profits if Bitcoin's price continues to fall. However, a substantial upward swing could result in the position being liquidated at $149,100, leading to potential losses.