According to TechFlow, on-chain analyst Ember's monitoring, ETH/BTC exchange rate die-hard bull James Fickel spent 11 million USDC to buy 4,336 ETH and 5 million USDC to buy 87.8 WBTC in the past 12 hours.
From January to July this year, he continuously borrowed WBTC from Aave and sold it for ETH to go long on the ETH/BTC exchange rate.
He currently has 2,987 WBTC ($168.8 million) borrowed on Aave, all of which have been exchanged for ETH. His ETH/BTC exchange rate is around 0.054.
