The ETH/BTC exchange rate fell below 0.03, causing a giant whale to experience floating losses after switching 27500 ETH positions

The ETH/BTC exchange rate fell below 0.03, and a certain whale continued to exchange UBTC for ETH, accumulating 27500 ETH with a total value of over 69.78 million US dollars. The exchange rate was 0.03046, and currently the account of this exchange has a floating loss of about 1 million US dollars.