“Whale Address Converts ETH/BTC Long Position to 3.987 WETH by

BlockBeats reported on November 1 that a long-term ETH/BTC trading position, spotted through on-chain data analysis by @ai_9684xtpa, sold 3,987 WETH units ($10.05 million) within 4 hours. The transaction was made at an average price of $2,519, and the proceeds were swapped into WBTC to repay a loan from Aave. This action fully liquidated the position and effectively ended a year-long long exchange rate strategy. Since January 2024, this address has suffered losses exceeding $22.45 million from the long exchange rate. To avoid liquidation, the trader utilized flash loans from previous months.