James Fickel (@jamesfickel) has closed his long-standing position on the ETH/BTC trading pair, resulting in a staggering loss of approximately 25,000 ETH ($83.6M). Between January 10 and July 1, he borrowed 3,061 WBTC ($172M) from Aave and exchanged it for 56,445 ETH at a rate of 0.054.

However, as market dynamics shifted, Fickel began unwinding his position in August. Since August 7, he spent $12M USDC to acquire 211 WBTC and exchanged 76,405 ETH for 2,904 WBTC ($208.5M) at a significantly lower rate of 0.038. These transactions allowed him to fully repay his debts on Aave, albeit with a considerable financial setback.

Address: 0xd85351181b3f264ee0fdfa94518464d7c3defada