Crypto KOL CBB Contrarianly Adds to Short Position in Crude Oil to $5.5M, Now Top On-Chain O Short

BlockBeats News, March 5th, according to Coinbob Popular Address Tracker, the price of CL (WTI Crude Oil Mapping Contract) on the Hyperliquid platform recorded a 5.4% increase today, with the high reaching $78 and currently trading at $76.4.

Under this market situation, the address has been continuously opening short positions, with the current position size reaching $5.5 million, average price $77.52, with an unrealized gain of approximately $80,000. As of the time of writing, the position is still being added to and is now the largest short position address on Hyperliquid.

It is reported that the address started to short CL when the price was around $74 yesterday afternoon, and then continued to add long positions for GOLD (Gold Mapping Contract) and SILVER (Silver Mapping Contract) today. The current gold and silver position size has reached $8 million. The two transactions may be intended to bet on the short-term premium of crude oil dissipating while simultaneously bullish on the continuation of the safe-haven sentiment for gold and silver.

Note: As of 3:02 PM, the address has increased its CL short position size to $13.5 million.

Cryptocurrency KOL CBB (X: Cbb0fe) is a senior trader and on-chain player with approximately 100,000 fans on X social media platform. He gained widespread attention due to the publicized event of organizing a hunt to kill a multibillion-dollar BTC short whale 25 years ago. Currently, he is high-frequency trading commodities on Hyperliquid, mainly in short positions.