Brent Crude Rallies 15.6% in Two Weeks as a Whale Takes Profit by Selling Off $16 Million of Its Long Position

BlockBeats News, May 20th, according to Coinbob Popular Address Monitor, Brent Crude Oil Futures (2607) has rebounded more than 15.6% from the low on May 7th, reaching $109.8 per barrel. The Hyperliquid platform's BRENTOIL contract is currently priced at $105.37, with a daily trading volume of approximately $128 million.

This rebound has allowed a $16 million BRENTOIL long position on-chain to break even today. The whale has significantly reduced its position in the past 2 hours, with holdings decreasing from 151,057 contracts to 99,716 contracts, reducing the position by approximately $5.44 million. The average entry price was $103.34, and they currently hold a remaining position of about $10.5 million.

Address: 0x7f5ff9f8da891ffe5229e33b90959ae1e6d5f47e