TechFlow News, December 24 — According to on-chain analyst EJ, renowned ETH/BTC ratio bull James Fickel further reduced his long position in the ETH/BTC ratio two hours ago: selling 6,500 ETH (worth $22.24 million) and converting it into 235.6 WBTC to repay part of his loan.
- James Fickel's peak long position in the ETH/BTC ratio was at the end of May, when he borrowed as much as 2,987 WBTC (worth $204.7 million) from Aave, using the borrowed WBTC to buy ETH at an average exchange rate of 0.054.
- Later, as the ETH/BTC ratio continued to decline, Fickel began reducing his position starting in August—gradually redeeming and selling ETH to convert back into WBTC for loan repayment. Over the past four and a half months, he has sold a total of 59,500 ETH, converting them into 2,398.2 WBTC for repayment, at an average selling exchange rate of 0.04.
- He still has an outstanding loan balance of 575.3 WBTC related to his ETH/BTC long position.
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