The WTI Crude Oil Whale, Who Once Made a Huge Profit During the US-Iran War, is Now Facing Over 400% Loss, Just $1.1 Away from Liquidation

BlockBeats News, July 1st, according to Hyperinsight monitoring, the crude oil market is currently digesting the second-quarter plunge while facing the supply risk disturbance from Iran's refusal to engage in direct talks with the United States. The Hyperliquid platform's WTICRUDE (WTI Crude Oil) is currently trading at around $69.70, once again down by 1.3% in 24 hours, with on-chain trading volume of about $72.68 million and open interest of around $163 million.

The largest long position holder on the WTI Crude Oil chain (0x007d) is now close to liquidation, currently holding a 20x leveraged WTIOIL long position with a size of about $12.57 million, with an entry price of $87.59, a liquidation price of $68.56, only about $1.13 below the current price, with an unrealized loss of about $3.23 million, corresponding to a staggering 413% loss of principal.

The long position that is now on the brink of liquidation was once one of the glorious winners in this round of the conflict market. The address opened a long position on April 2, when the United States continued to implement its "maximum pressure" policy, imposing new sanctions on Iran's oil exports and related transport networks, and geopolitical risk premium drove oil prices higher. On April 4, the oil price briefly surged to a high of $114, and the long position was highly profitable at that time.

Since May, the oil price has sharply reversed course. This whale has never left the market, allowing the unrealized gains to evaporate all the way back, ultimately owing four times the initial margin. In addition, the address has been involved in trades involving SPCX, SILVER, and other assets in the past month.

From the on-chain order book perspective, it is evident that large WTI Crude Oil holders are significantly biased towards the short side, with the current nominal size of million-dollar level short positions at around $61.46 million, which is 2.32 times the long positions (about $26.46 million); the average long position entry price is around $84.27, and the overall position has all sunk underwater. This once victorious wartime player is now deeply mired in the quagmire with the long camp.