On the Crude Oil Holdings Ranking, the top two giant whales joined forces to bet that U.S. oil would outperform Brent oil, opening a spread position with a scale of 27 million.

BlockBeats News, May 6th, according to Hyperinsight monitoring, among the top holders of Hyperliquid crude oil positions, two major addresses have recently opened “long WTI, short Brent” spread positions simultaneously, betting on U.S. crude oil relative strength over Brent. Both addresses have similar average prices, with a total position size reaching $27 million.

During today’s sharp decline in oil prices, WTI crude oil weakened relative to Brent. The leveraged 20x WTI crude oil short positions held by these two addresses approached liquidation at one point. If oil prices continue to decline overall and WTI briefly drops below $90, longs face liquidation; if prices rebound afterward, shorts are also at risk of liquidation, potentially leading to bilateral liquidations on both sides.

Address: 0x2c6736b6d4bc89458137f68f0ca78b0916e33075

Address: 0x1d3d17c65742978338263c06a19ef6c0becd8928

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin