With Bitcoin hovering around $103,500, well-known crypto trader James Wynn has made a bold prediction: the crypto market is about to crash hard.
Wynn, who holds a $70 million short position on Bitcoin, warned on X (formerly Twitter) that rising tensions between Iran and Israel could spark a global crisis — possibly even World War 3 — if the U.S. gets involved.
“If the USA gets involved, that is a declaration of a world war. Markets will nuke,” Wynn wrote.
The crypto market is already under pressure. In the past 24 hours, more than $481 million worth of trades have been liquidated, according to Coinglass.
Wynn says this weakness is caused by a mix of global tension, low liquidity, and fading investor confidence.
Despite the panic, Wynn remains confident that crypto will bounce back — but only after a major drop.
He believes upcoming Federal Reserve interest rate cuts and money printing will push crypto into a new bull run later this year.
“Crypto will win. But lower, before higher,” he stated.
Still, for now, he’s doubling down on his bearish bet, increasing his $70 million short position.
Wynn’s decision has sparked major debate. Some see it as a smart hedge during uncertain times, while others think it may miss the mark if the market recovers quickly.
Meanwhile, the Federal Reserve is sending mixed signals — with one official hinting at rate cuts by July, while Fed Chair Jerome Powell advises caution.
With global tensions rising and crypto already facing massive liquidations, the market could be on the brink of a major move.
Will Wynn’s bold bet pay off — or will it mark the bottom before a massive rebound?
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