Veteran Trader James Wynn Turns Bullish, Opens BTC Long as Bitcoin Price Breaks $93K

Veteran crypto trader James Wynn has shown the first signs of a bull trend for the Bitcoin price in the crypto market. He has placed long bets on the token and said a breakout is on the cards. The move came when BTC broke the $93,000 level.

James Wynn Goes Long as Bitcoin Price Breaks Key Resistance

In a X post, James Wynn revealed the reopening of his long position on the BTC token after the recent rise in the Bitcoin price. As per the information provided, he is long 124.18 BTC with a leverage of 40x, while the value of the position has been estimated to be around $11.5 million. His average entry price stands at about $91,332, making him hold a floating profit of $211,000.

Aside from his Bitcoin holdings, another leveraged position that Wynn had is on PEPE. This token holding position consists of more than 364 million tokens with a leverage of 10x. The overall value of his investment on PEPE is around $2.6 million. The accumulated profit already exceeded $590,000.

Wynn’s move comes at a time when the price of Bitcoin continues to recover in the first month of 2026 amidst the escalating tension between the US and Venezuela.

Observers are keenly observing how crypto will perform following the capture of the President of Venezuela, Maduro. At the time of publication, Bitcoin appears to be on a rising trend. It had reached $93,000 in the first hours of yesterday’s trade.

Based on the data provided by CoinMarketCap, the total market cap at this point is $3.16 trillion, together with a daily volume of $90 billion as of January 5. The Crypto & Fear Index has also become neutral at this point, marking its first since October.

Additionally, the Coinbase Premium Gap has made a strong comeback after plunging deeply into the red at the end of the last month. A sign that market professionals have returned to the buying side, as selling on account of year-end effects has diminished.

The End of BTC’s Four-Year Cycle?

Analysts broke down that what we have seen recently in the crypto market is more or less the expression of the end of this four-year cycle. As illustrated in analysis, expert David revealed that with each passing phase, the pricing pattern of Bitcoin is trending more and more towards a power-law pattern with constantly reducing volatile periods.

With this model, the Bitcoin is considered to still be in the early stages of a prolonged phase of growth and not late in a normal cycle.Fair value is placed well above current price levels by this analysis, which would indicate that current price is still below trend despite recent gains. He also set a $218,000 price target for the token at the end of the year.

Supporting this view, the spot bitcoin ETFs have made a significant recovery. These saw net inflows of $459 million over the period of late December to early January, based on SoSoValue’s data. Almost all of it, over $320 million, was driven by the IBIT fund of BlackRock.