Odaily News According to on-chain analyst Ember, as the ETH/BTC exchange rate fell to a new low of 0.0377 since April 2021. James Fickel, the largest ETH/BTC exchange rate bull on the chain, continued to reduce his position: 7 hours ago, he sold 2,000 ETH (US$5.06 million) in exchange for 76 WBTC to reduce his position. ◎James Fickel's ETH/BTC exchange rate long position peaked at the end of May, when he borrowed as much as 2,987 WBTC (US$204.7 million) from Aave, and the borrowed WBTC was bought for ETH at an exchange rate of 0.054. ◎Later, as the ETH/BTC exchange rate continued to fall and there was no rebound at all, James Fickel had no choice but to reduce his position from August: redeeming ETH in batches and selling it in exchange for WBTC repayment. So far, in the past two and a half months, he has sold 43,600 ETH in exchange for 1,766 WBTC (US$118.9 million) to repay and reduce his position. ◎His ETH/BTC exchange rate long position currently has a loan of 1,221 WBTC.