Crypto trader James Wynn said he has shifted to a defensive macro setup after Donald Trump issued a 48-hour ultimatum to Iran over reopening the Strait of Hormuz. Wynn said he is short the S&P 500 and Nasdaq, long WTI crude oil, and using spot capital to buy Bitcoin on pullbacks, while still staying cautious about more downside.
In posts on social media, Wynn said rising global uncertainty is shaping conditions across risk markets. Alongside those positions, he said he is also looking for opportunities in the Singapore dollar, Chinese yuan, euro, and British pound. He added that gold could either stabilize soon or push to fresh all-time highs, viewing it as a potential safe-haven asset in current conditions.
Geopolitical tension reshapes Wynn’s cross-asset positioning
The portfolio shift came after Trump warned Iran to reopen the Strait of Hormuz by Tuesday. According to the report, Trump said the U.S. would target Iranian energy infrastructure and bridges if Tehran failed to allow vessel passage.
The Strait of Hormuz is one of the world’s key oil transit routes. The article says the waterway has been closed since late February following a U.S.-Israel military operation, disrupting roughly one-fifth of global oil supply. That backdrop helps explain Wynn’s bullish crude position. On real estate, he described his own exposure as unprofitable, though he still stressed diversification in a volatile market.
Thin weekend liquidity sharpens Bitcoin swings
Wynn also warned traders about erratic Bitcoin moves during low-liquidity weekend sessions. He pointed to Sunday’s abrupt BTC spike as another example of a classic low-volume wick, saying it adds to signs of instability in the market.
According to the report, Bitcoin jumped $1,000 in 10 minutes on Sunday and wiped out $28 million in short positions within an hour. The move followed an ongoing pattern of rapid price action during thin trading periods. Over recent weeks, BTC has mostly traded between $65,000 and $73,000, while the Fear and Greed Index has held at 12, a reading tied to deep market anxiety.
With oil above $100 per barrel and Trump’s deadline approaching, the outlook for risk assets remains unsettled. Wynn’s latest positioning ties together geopolitics, commodity moves, currency exposure, and Bitcoin volatility in a single defensive trading stance.