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.
Crypto on the Edge
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.
Bitcoin dropped 2%, now around $103,896.Ethereum (ETH) fell over 4.5%.
Wynn says this weakness is caused by a mix of global tension, low liquidity, and fading investor confidence.
“Lower Before Higher,” Says Wynn
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.
Investors Divided
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.
A Turning Point for Crypto?
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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