ETH/BTC Swing Trade Ends in $68.84M Loss as Investor Exits After a Year

ETH/BTC Swing Trade Concludes with $68.84M Loss On-chain crypto analyst EmberCN has revealed that a prominent swing trader, James Fickel, has closed his ETH/BTC trade with a significant loss of $68.84 million after holding the position for a year. Details of the Trade According to EmberCN, Fickel swapped 2,987 WBTC (wrapped Bitcoin) for 55,315 ETH in the first half of 2022. Starting in August, he began repaying the loan by selling a total of 75,947 ETH. Despite the effort, Fickel ultimately incurred a loss of 20,632 ETH, equivalent to approximately $68.84 million. This news serves as a reminder of the inherent risks associated with leveraged trading in the volatile cryptocurrency market. Investors should exercise caution and conduct thorough research before engaging in such trades.