Whale with a large position of 5 million on-chain WTI crude oil short positions, possibly betting that the Strait of Hormuz is not blocked

BlockBeats News, March 3 — According to HyperInsight monitoring, in the past half hour, a whale starting with the address 0xf4b has opened its first on-chain large commodity trade, directly targeting WTI crude oil futures. It has built a position with 20x leverage in CL (WTI crude oil perpetual contracts), with a position size of $5.09 million. The average entry price is $72.5, with a liquidation price set at $76.5.

As the gateway to global energy transportation, the real-time status of the Strait of Hormuz is a key factor influencing oil prices. This morning, Iran announced unilaterally that the strait has been fully closed, causing WTI oil prices to briefly rise to around $73. Subsequently, the U.S. publicly responded that monitoring shows navigation through the strait remains normal, with no signs of physical blockage so far.

The position held by this address aims to bet that the U.S. statement will be validated, potentially causing some of the premium in oil prices to be reversed. However, if there is a subsequent outbreak of substantial maritime friction or if Iran’s messages are confirmed, this address could face partial liquidation due to the narrow $76.5 liquidation price.

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