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A strategic reserve address has completed an important asset adjustment. The $15.07 million worth of WBTC withdrawn from the Aave protocol has been fully converted to WETH. With this operation executed, the Bitcoin position in this wallet has been officially cleared.
According to on-chain data, this batch of WBTC was purchased in installments between January and February 2024, at an average price of approximately $104,710.55. The recent sale decision implies that the address realized a loss of about $1.978 million on this position. Interestingly, the 4,611.65 ETH received has an average cost basis of $3,260.88, reflecting the address holder's reallocation strategy within the Ethereum ecosystem. From a market perspective, such large institutional-level position shifts often provide market participants with some points for consideration.