According to ChainCatcher news, monitored by on-chain analyst Yu Jin, the famous ETH/BTC long trader James Fickel continued to reduce his ETH/BTC long position 2 hours ago: selling 6,500 ETH (22.24 million USD) for 235.6 WBTC to repay loans.
James Fickel's ETH/BTC long position peaked at the end of May, when he borrowed as much as 2,987 WBTC (204.7 million USD) from Aave, purchasing ETH with the borrowed WBTC at an average rate of 0.054.
Later, as the ETH/BTC exchange rate continued to decline, James Fickel began to reduce his positions from August: redeeming ETH in batches and selling it for WBTC to repay loans.
As of now, over the past four and a half months, he has reduced his positions by selling 59,500 ETH for 2398.2 WBTC to repay loans, with an average selling rate of 0.04.He currently has a borrowing of 575.3 WBTC in his ETH/BTC long position.
