WTI crude oil drops towards $80, one major short whale gains an unrealized profit of $1.83 million

BlockBeats news, on July 28, according to Hyperinsight monitoring, WTI crude oil continues to give back the risk premium brought about by geopolitical tensions. The WTI mapped contract (xyz:CL) on Hyperliquid is currently quoted at $80.91, down 5.2% in the past 24 hours; compared with the local high of $93.44 on July 24, it has cumulatively fallen by 13.4%, once again approaching the $80 mark.

The whale address starting with 0x60a8 has become one of the main beneficiaries of this decline. Currently, this address is shorting 171.9 thousand CL contracts with 2x isolated margin, with a position value of about $13.91 million, an average entry price of $91.57, and a liquidation price of $133.53. The current unrealized profit is about $1.833 million, with a return rate of about 23.3%, and no additional entries or exits have been placed for now.

On the market side, the US has suspended military strikes against Iran, and Iran has simultaneously stopped retaliatory actions. Expectations for diplomatic de-escalation and the gradual resumption of Middle East energy transportation have caused the oil price to continue squeezing out its risk premium.

Currently, the 24-hour trading volume of the CL contract is about $320 million, with the nominal open interest at about $161 million.