A crypto whale has started bottom-fishing for WTI crude oil, opening a new long position worth $22 million.
58 minutes ago
According to TradingBeats' monitoring, a whale with the address starting with 0x9e2c has been continuously opening long positions in WTI crude oil from last night to the past half hour, accumulating purchases worth around $22.0817 million at an average price of $98.14. The position is currently valued at approximately $21.4027 million, with an unrealized loss of about $679,000. The position uses 20x full leverage; calculated based on the unified account's USDC collateral equity, the effective leverage is around 10.46x, and the current estimated liquidation price stands at $88.23. This position was opened during the U.S. midterm elections' voting and vote-counting window, coinciding with ongoing U.S.-Iran negotiations. Earlier expectations of diplomatic easing had driven oil prices down sharply, but no deal has been finalized yet. According to Reuters, Qatar is mediating between the two sides to review a new proposal. Iran has demanded the lifting of port blockades, relaxation of oil sanctions, and the release of frozen funds, noting that the two sides are still far from reaching an agreement; mediators are working to avoid renewed conflict escalation after the midterms.
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