Investor Reduces ETH/BTC Position Amid Market Changes

According to BlockBeats, recent monitoring by EmberCN reveals that ETH/BTC investor James Fickel has further reduced his long position. Two hours ago, Fickel sold 6,500 ETH, equivalent to approximately $22.24 million, converting it into 235.6 WBTC to repay and reduce his position. At its peak in late May, Fickel's long position involved borrowing 2,987 WBTC, valued at around $204.7 million, on Aave. He used an average exchange rate of 0.054 to purchase ETH. However, as the ETH/BTC rate declined, Fickel began reducing his position in August by gradually redeeming ETH and converting it back to WBTC for repayment. 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 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.