WTI Crude Oil Plunges to $80, Oil Bear Whale Takes $1.83 Million in Unrealized Gains

July 28, according to Hyperinsight monitoring, WTI crude oil continued to give back the risk premium from geopolitical conflicts. The WTI mapped contract on Hyperliquid (xyz:CL) is currently trading at $80.91, a 5.2% decrease over 24 hours. It has dropped 13.4% from the intraday high of $93.44 on July 24, once again approaching the $80 mark.

Whales starting with 0x have become one of the main beneficiaries of this round of decline. It is currently shorting 171,900 CL contracts with 2x leverage, with a position value of approximately $13.91 million. The entry price is $91.57, the liquidation price is $133.53; current unrealized profit is about $1.833 million, with a return rate of about 23.3%. No additional position increase or reduction orders have been placed.

On the market side, the U.S. has halted military strikes against Iran, and Iran has simultaneously ceased retaliatory actions. The easing of diplomatic tensions and the gradual expectation of the resumption of Middle East energy transportation have contributed to pushing oil prices further away from the risk premium.

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