Large-scale investors are taking long positions on crude oil even as its price falls below $85, Onchain Lens reported. A whale address starting with 0x547 opened a 20x leveraged long position on crude oil (CL) worth $8.95 million. Another address, starting with 0x7f5, deposited $5 million in USDC before opening a 1x leveraged long position on crude oil. Additionally, an address beginning with 0x0e0 established a 7x leveraged long position on crude oil valued at $3.5 million. This same address also holds a total of $14.5 million in 5x leveraged short positions on BTC and ETH.
Whales bet on oil price rise despite recent drop
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content





