High-profile crypto trader James Wynn is back in action, opening new leveraged positions in Bitcoin and memecoins despite suffering massive liquidations in recent weeks.

Wynn, whose bold trades have drawn attention across crypto circles, has opened a fresh 40x leveraged long on Bitcoin worth over $19.5 million at around $117,000, according to blockchain data from Hypurrscan. The trade risks liquidation if Bitcoin dips below $115,750. He’s already paid $1.4 million in funding fees to keep the position open, with unrealized profits sitting around $78,000.

His second bet is a 10x leveraged long on the memecoin PEPE, valued at just over $102,000. The position was opened at $0.01201, though the exact liquidation level hasn’t been disclosed.

Wynn’s comeback comes just weeks after two earlier $100 million Bitcoin bets were wiped out. His first was liquidated on May 30, when BTC briefly fell below $105,000. A second attempt on June 3 met a similar fate, leading to losses nearing $25 million by June 5.

Still, the trader remains undeterred. Posting to X earlier this month, Wynn accused market makers of targeting his liquidation levels: “They’re coming for me again. Don’t let these evil bastards liquidate me.”

“Beautiful timing for a 40x long,” he posted this week, claiming market makers were now “out of gun powder.”

While Wynn is betting big on the upside, not everyone shares his outlook. Another trader known as Qwatio has opened a $2.3 million 40x short position on Bitcoin, effectively betting the price will fall. Qwatio has also had a rough run — reportedly liquidated eight times in a single week, losing $12.5 million.

Leveraged crypto trading remains high-risk, often magnifying losses during volatile moves. In one of the largest events this year, a whale lost more than $308 million on a 50x Ether long in March after ETH dipped below $1,877.