According to on-chain analyst Ember monitoring, as the ETH/BTC exchange rate fell to a new low of 0.0377 since April 2021. The ETH/BTC exchange rate bull with the largest position on the chain @jamesfickel continues to reduce his position: 7 hours ago, he sold 2000 ETH (5.06 million USD) for 76 WBTC to reduce his position. James Fickel's ETH/BTC long position peaked at the end of May, when he loaned 2,987 WBTC ($204.70 million) at Aave and bought ETH at 0.054. ◎ Later, as the ETH/BTC exchange rate has been falling and there is no rebound at all, James Fickel has no choice but to reduce his position from August: redeem ETH in batches and sell it for WBTC repayment. So far, two and a half months, he has sold 43,600 ETH for 1766 WBTC ($118.90 million) repayment reduction. His long position in the ETH/BTC exchange rate currently has 1221 loans in WBTC.