According to Hyperinsight, a whale wallet starting with 0xc278 has closed 61 BRENTOIL trades since it began trading Brent crude on March 19. Of those, 59 were long positions and two were shorts, putting the long-side ratio at 96.7%.
Across the full set of 61 trades, the wallet recorded a combined net loss of about $2.431 million. Hyperinsight said million-dollar-sized heavy positions accounted for 99.4% of the total losses.
Latest Brent long was liquidated
Yesterday, the wallet’s Brent crude long was liquidated again. The liquidation closed out 47,600 BRENTOIL long contracts, with liquidation turnover of about $4.046 million. The weighted liquidation price was დაახლოებით $84.99, and the total loss came to about $275,000.
After the liquidation, the address no longer had any Brent crude position.
BRENTOIL dropped from $91.68 to $82.81 on Sunday
Before the liquidation, BRENTOIL on Hyperliquid fell from a Sunday high of $91.68 to a low of $82.81, marking a maximum decline of 9.7%. Its final backup liquidation price was about 7.6% below the peak.
Hyperinsight said the decline mainly took place after Trump said he would pause a new round of attacks on Iran and said a Middle East ceasefire agreement was close.
Three long trades in early April also lost money
Hyperinsight data also showed that the whale posted losses of about $882,000, $513,000, and $460,000 on three long trades in early April. Even so, it continued to trade almost exclusively on the long side in crude oil and repeatedly posted the largest single liquidation across the market.