Two Top Whales in Crude Oil Long Positions Jointly Bet on WTI Outperforming Brent, Opening a $27 Million Spread Position

BlockBeats News, May 6th, according to Hyperinsight monitoring, in the Hyperliquid crude oil top holders list, two large addresses have recently opened synchronized "long WTI, short Brent" spread positions, betting on the strength of US oil relative to Brent oil. The average price of the two addresses is similar, with a total position size of $27 million.

During today's sharp drop in oil prices, WTI crude oil weakened. The 20x leveraged WTIOIL short positions held by these two addresses were close to liquidation. If the oil price experiences another overall decline and WTI briefly drops below $90, the long positions will face liquidation. Similarly, if the oil price subsequently rebounds, the short positions will also be at risk of liquidation, potentially leading to bilateral liquidation on both sides.

Address: 0x2c6736b6d4bc89458137f68f0ca78b0916e33075

Address: 0x1d3d17c65742978338263c06a19ef6c0becd8928