According to Lookonchain, trader 0x2258 attempted to countertrade @JamesWynnReal by going long on $ETH and $BTC after JamesWynnReal's liquidation, expecting a rebound. However, as both Ethereum and Bitcoin prices continued to decline, 0x2258 was forced to close out his long positions, resulting in a realized loss of $388,000 (source: Lookonchain via X.com, June 6, 2025). This incident highlights the risks of rebound trading strategies and serves as a caution for crypto traders relying on liquidation events as entry signals, especially in volatile market conditions.

According to Lookonchain, top trader @JamesWynnReal closed all 11,588 BTC long positions valued at $1.25 billion on Hyperliquid, incurring a loss of approximately $13.4 million. This significant liquidation led to a 1.3% drop in BTC price on the Hyperliquid platform. Such large-scale position closures by major traders tend to increase short-term volatility and can trigger further liquidations, impacting overall market sentiment and driving increased trading volume as participants react to the abrupt price movement (source: Lookonchain, hyperdash.info).