According to on-chain analyst Ember, the four-month long position of ETH/BTC exchange rate by James Fickel, founder of the Amaranth Foundation, has finally paid off:
2 hours ago, James Fickel, a long position in ETH/BTC exchange rate, continued to use 16 million USDC + 40 WBTC to buy 4,947 ETH (18.8 million US dollars), with an average price of 3,801 US dollars.
Since the beginning of January this year, he has borrowed 2,781 WBTC (195 million US dollars) from Aave and sold them for 51,429 ETH to go long on ETH/BTC exchange rate, and the cost of ETH/BTC exchange rate is 0.054.
The current ETH/BTC exchange rate has returned to 0.054, which means that his long position in ETH/BTC exchange rate has finally paid off.