Inertial thinking kills people. In the past, the exchange rate of Ethereum to Bitcoin was basically around 0.05, but later it was found that except for Bitcoin, all other currencies have valuation ceilings, so the long-term exchange rate of all currencies to Bitcoin will inevitably tend to zero. There may be a small climax in the bull market, but only Bitcoin can be held for a long time.

The famous ETH/BTC long position holder James Fickel's year-long ETH/BTC long position has finally come to an end today:
Four hours ago, he sold 6429 ETH ($21.45M) for 227 WBTC, paying off all his WBTC debts.

He sustained a year-long ETH/BTC long position, incurring a loss of $68.84 million (20,632 ETH):
◎ In the first half of the year, he borrowed 2,987 WBTC through Aave at an exchange rate of 0.054 and sold it for 55,315 ETH to go long on the ETH/BTC exchange rate;
◎ Starting in August, he gradually sold ETH to buy back WBTC for repayment, spending a total of 75,947 ETH to buy back 2,987 WBTC at an exchange rate of 0.0393 for repayment;
◎ In the end, he incurred a loss of 20,632 ETH ($68.84M) on his long position in the ETH/BTC exchange rate.

The largest ETH/BTC long position has surrendered, is it time for Ethereum to pump? 😂

Address: 0xd85351181b3f264ee0fdfa94518464d7c3defada