ETH/BTC exchange rate long James Fickel sold 2,000 ETH for 76 WBTC 7 hours ago to reduce his position

According to on-chain analyst Yu Jing's monitoring, as the ETH/BTC exchange rate has fallen to a new low of 0.0377 since April 2021, the largest ETH/BTC long position holder James Fickel continues to reduce his position: 7 hours ago, he sold 2,000 ETH (USD 5.06 million) and exchanged it for 76 WBTC to reduce his position. ◎ At the peak of James Fickel's ETH/BTC long position in late May, the amount of WBTC he had borrowed on Aave reached 2,987 (USD 204.7 million), and he bought ETH at an exchange rate of 0.054. ◎ Later, as the ETH/BTC exchange rate continued to decline without any rebound, James Fickel had no choice but to start reducing his position from August: he redeemed and sold ETH in batches to repay WBTC. Over the past two and a half months, he has sold 43,600 ETH and exchanged it for 1,766 WBTC (USD 118.9 million) to repay and reduce his position. ◎ He still has a loan of 1,221 WBTC for his ETH/BTC long position.