Data: The whale address that previously went long on the ETH/BTC exchange rate has withdrawn BTC from Binance to repay, incurring a loss of about 4 million USD

According to ChainCatcher's message, on-chain data analyst Yu Jin monitored that a whale address, which previously leveraged the Aave platform to go long on the ETH/BTC exchange rate, withdrew 1,100 BTC in batches from the Binance platform for repayment between June 29 and July 5. As the current ETH/BTC is 0.063, lower than early June (0.07 on June 2), this long position on the ETH/BTC exchange rate has resulted in a loss of approximately 4 million USD.

Previously, ChainCatcher reported that this whale address had deposited a total of 29,031 ETH into Aave since May 26 (worth about 55.2 million USD) and borrowed 1,100 WBTC (worth about 29.87 million USD) to continuously go long on the ETH/BTC exchange rate. (Source link)