James Fickel (Amaranth Foundation founder) further swapped 3,000 ETH ($6.64M) for 124.04 WBTC at average prices of $2,213 and $53,504, respectively, in the past 3 hours to repay his loan on Aave:

• address: 0xd85351181b3f264ee0fdfa94518464d7c3defada
• This address belongs to the entity James Fickel (Amaranth Foundation founder)

Notably, James Fickel started to reduce his ETH/BTC long position on August 11, 2024, as the ETH price nosedived. So far, James Fickel has sold 13,000 ETH ($32.72M) for 549.8 WBTC at average prices of $2,517 and $59,506, respectively, to repay his loan.

James Fickel became super bullish on the ETH/BTC trading pair after the Bitcoin ETF was launched on January 10, 2024. At peak, he borrowed and exchanged as many as 3,061 WBTCs for ETH. However, his ETH/BTC long position has been significantly reduced to 2,316 WBTC ($124.7M) as of now.

Fig 1. James Fickel (Amaranth Foundation founder) has sold 13,000 ETH ($32.72M) for 549.8 WBTC since August 11, 2024, to reduce his ETH/BTC long position.