Bitcoin Poised for $121K Next Week? Major Whale Places $1.25B Bet on It

Following a recent peak, Bitcoin (BTC) has fallen back to around the $108,000 mark.

Despite the turbulence stemming from U.S. President Donald Trump’s recent tariff announcements, a prominent investor is wagering billions that this leading cryptocurrency will surge to $121,000 in the near future.

The $1.25B Bet

High-profile trader James Wynn, who is known for making audacious leveraged trades, has reinforced a $1.25 billion position on BTC with 40x leverage. This comes after a tumultuous week that saw his unrealized losses momentarily reach $321 million.

“THE FLUCTUATIONS ARE NUTS,” Wynn commented on Thursday as he managed to recover to a small profit. “WHALES ARE OUT TO ELIMINATE ME!”

Market analytics platform Lookonchain indicated that his liquidation threshold stands at $105,180, leaving him just a 3.5% margin from a total loss given Bitcoin’s current price.

Despite these precarious margins, the trader remains optimistic, declaring a target for Bitcoin over the upcoming week. “$118k – $121k next week,” he wrote on X on Saturday morning, amplifying his bullish stance even with increasing volatility.

Shortly thereafter, he posted a screenshot revealing $4.2 million in unrealized profits on one of his trades, which had been down $59 million earlier. “Built different,” the self-described meme coin enthusiast boasted.

Will the Market Follow Suit?

However, skepticism surrounds Wynn’s confidence. Analyst Daan Crypto Trades labeled Wynn’s trading strategy as “insanity,” suggesting that even partial liquidation could influence Bitcoin’s price significantly. “Every 1% BTC candle equals a $10M profit/loss swing,” he cautioned.

Another anonymous market analyst, Innerdevcrypto, hinted that Wynn could be seeking attention with his public displays of boldness. “That liquidation price is perilously close,” he observed. “I wonder if there’s an ulterior motive behind his actions.”

Furthermore, President Trump’s recent tariff threats have rattled global markets, including a 50% import tax on European goods and a 25% levy specifically targeting Apple products. Bitcoin fell over 3% on Friday, briefly hitting around $107,600, as crypto analytics firm Santiment noted that this situation prompted traders to adopt more conservative strategies, focusing on “holding and ‘hoping for the best.’”

Additionally, Lookonchain disclosed that Wynn had liquidated his ETH and SUI longs, incurring $5.3 million in losses, to fully commit to Bitcoin. This boldness—or recklessness, depending on one’s perspective—has set up an intriguing week ahead. Will this bold investor’s prediction of $121,000 come to fruition, enabling him to score big, or will he be overwhelmed by market forces around $105,000?

UPDATE:

Recent information from Lookonchain reveals that Wynn has closed his entire $1.25 billion long position mere hours ago, which subsequently contributed to a price drop for Bitcoin on Hyperliquid.

Top trader @JamesWynnReal closed all 11,588 $BTC($1.25B) long positions an hour ago, losing ~$13.4M.

The price of $BTC on Hyperliquid dropped by 1.3%.https://t.co/IUTpCuzoSBhttps://t.co/XC9qCI5NmO pic.twitter.com/GcaqxpPc2A

— Lookonchain (@lookonchain) May 25, 2025