One of the Most Prominent Traders Made a Significant Strategic Change After a Partial Recovery in the Market: Here’s What He Did
It was reported that a trader whose movements were followed in the cryptocurrency market made a new transaction after the recovery.
James Fickle, one of the well-known traders in the cryptocurrency market, has made new transactions according to onchain data.
Following the partial recovery in the market, it was observed that James Fickle reduced his long position in the ETH/BTC parity from his cryptocurrency addresses.
The data noted that James Fickle had previously closed his debt to Aave, which had previously played a role in opening the position, by trading 10,000 ETH worth $ 26.1 million for 425.8 WBTC in recent hours.
Notably, Fickle had made an unusually bullish trade on the ETH/BTC pair after the Bitcoin ETFs were approved on January 10, 2024. The trader had repeatedly borrowed 3,061 WBTC via crypto lending platform Aave and traded them for 56,445 ETH at a rate of 0.05424.
Currently, the trader still has $149 million in borrowed assets and is estimated to have a total loss of approximately $38.5 million, with the ETH/BTC parity being at 0.05424 at the time of writing.
Wrapped Bitcoin, a bridged version of Bitcoin that can be used in DeFi applications, recently came to the fore due to allegations that it was hijacked by Tron founder Justin Sun.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Navigating Crypto Volatility: How Bitcoin and Altcoins Influence Your Trading Choices
Understanding the Impact of Market Volatility on Crypto Trading: A Look at the Risk and Reward in Bitcoin and Altcoins

Bitcoin Plunge Signals Opportunity to Buy as USDT Flow Peaks in Six Months
Analyzing Stablecoin Spikes amid Bitcoin's Decline: A Sign of Impending Rally or a Word of Caution?

Keeping Faith in Bitcoin: Unraveling the 2017 Cycle and the Power of HODLing Strategy
Identifying Parallels Between BTC's Current Trends and Its Performance Four Years Prior - Should Investors Hold Firm or Alter Approaches?

Fantom’s Solid Pattern of Higher Lows: What’s Next for FTM Price?

Trending news
MoreCrypto prices
More








