ChainCatcher message, on-chain analyst Yu Jin has monitored that the famous ETH/BTC bullish James Fickel's long battle has finally come to an end. Fickel has insisted on going long on the ETH/BTC rate over the past year, but ultimately ended up with losses. Today, he sold 6429 ETH (approximately 21.45 million USD) for 227 WBTC, clearing all WBTC debts.

Fickel's operation began in the first half of the year when he borrowed 2987 WBTC through Aave at a rate of 0.054, exchanging it for 55315 ETH, attempting to go long on the ETH/BTC rate. However, starting in August, he began gradually selling ETH to buy back WBTC at a rate of 0.0393, spending a total of 75947 ETH.

In the end, this operation resulted in a loss of 20632 ETH, approximately 6.884 million USD. This case highlights the risks and challenges of market volatility, reminding investors to operate with caution.