Odaily News According to Lookonchain monitoring, a whale continues to increase its short position in the ETH/BTC trading pair.
The whale has withdrawn 3,644 cbBTC (about $304 million) from Coinbase and deposited 3,034 cbBTC (about $253 million) into the Aave lending platform. Subsequently, the trader borrowed 79,638 ETH (worth about $152 million) from Aave.
This trading behavior indicates that the investor expects Bitcoin to perform stronger than Ethereum, or Ethereum to weaken relative to Bitcoin. Through this strategy of borrowing ETH and holding BTC, investors can short the ETH/BTC trading pair without closing their BTC positions.