On-chain data analysis shows that renowned trader James Fickel continues to adjust his strategy in the ETH/BTC exchange rate market. Two hours ago, he reduced his position by selling 6,500 ETH for 235.6 WBTC. This move has attracted market attention.
Looking back to the end of May, Fickel borrowed 2,987 WBTC on the Aave platform at a rate of 0.054 to purchase ETH when the ETH/BTC exchange rate was at its peak. However, as the exchange rate declined, he began to gradually reduce his position starting in August. So far, he has sold 59,500 ETH in exchange for 2,398.2 WBTC.
Currently, Fickel still has a long position with 575.3 WBTC in loans, and the market will closely monitor his subsequent actions.