A large long-term ETH/BTC exchange rate whale has started to reduce their positions.
According to Ember Monitor, ETH/BTC exchange rate long James Fickel has begun to reduce his position. In the past 5 hours, he has sold 10,000 ETH and exchanged them for 425.75 WBTC to repay his loans, in order to reduce his long ETH/BTC exchange rate position. From January to July this year, he has continuously borrowed WBTC from Aave and then sold it for ETH to take a long position on the ETH/BTC exchange rate, with a cost basis of around 0.054. After partially reducing his position today, his long ETH/BTC exchange rate position is still very large: he still has 2438.5 WBTC (worth approximately $148 million) in loans.
