Ethereum to Bitcoin Exchange Rate Sees Significant Reduction

According to Foresight News, Twitter user Ember Monitoring has reported that Ethereum to Bitcoin exchange rate bull James Fickel has significantly reduced his long position over the past 30 hours. Fickel sold 10,000 ETH, valued at $33.57 million, in exchange for 348.3 WBTC to repay and reduce his position. As of the time of reporting, he has only 227 WBTC, equivalent to $21.7 million, in loans remaining. It is estimated that his losses from the long position on the ETH/BTC exchange rate are nearing $70 million, which is approximately 20,665 ETH.