According to PANews, on-chain analyst Yu Jin reported that ETH/BTC long position holder James Fickel has further reduced his position by selling 6,500 ETH, equivalent to approximately $22.24 million, in exchange for 235.6 WBTC to repay his loan.
At the peak of his position in late May, Fickel had borrowed 2,987 WBTC, valued at $204.7 million, on Aave to purchase ETH at an average exchange rate of 0.054. However, as the ETH/BTC exchange rate declined, Fickel began reducing his position in August by gradually selling ETH to repay his WBTC loan. Over the past four and a half months, he has sold a total of 59,500 ETH, converting it into 2,398.2 WBTC for loan repayment, with an average selling rate of 0.04.
Currently, Fickel still holds a loan of 575.3 WBTC in his ETH/BTC long position.
