A long-term ETH/BTC exchange rate whale began to reduce its position
James Fickel, a long-term bull on the ETH/BTC exchange rate, has started to reduce his position. In the past 8 hours, he has sold 10,000 ETH to repay his loan and bought 425.75 WBTC to lower his ETH/BTC exchange rate long position.
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. His cost for ETH/BTC exchange rate was around 0.054. After partially reducing his position today, his long position on ETH/BTC exchange rate is still very large: he still owes 2438.5 WBTC (worth about 148 million US dollars).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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