A whale who has been long on the ETH/BTC exchange rate for a long time has started to reduce their position
According to Ember Monitoring, long-term ETH/BTC bull James Fickel has started to reduce his position. In the past 5 hours, he sold 10,000 ETH for 425.75 WBTC to repay loans and lower his long position in the ETH/BTC exchange rate. 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 was around 0.054. After partially reducing his position today, his long position in the ETH/BTC exchange rate is still very large: there are still loans of about 2438.5 WBTC (worth approximately $148 million).
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