A whale holds a large on-chain short position of 5 million in WTI crude oil, possibly betting that the Strait of Hormuz has not been blocked.

BlockBeats news, March 3, according to HyperInsight monitoring, in the past half hour, the whale address starting with 0xf4b has recently opened large-scale commodity trading on-chain for the first time, targeting WTI crude oil futures. Currently, it has established a 20x leveraged short position in CL (WTI crude oil perpetual contract), with a position size of 5.09 million dollars. The average entry price is 72.5 dollars, and the liquidation price is set at 76.5 dollars.

As the throat of global energy transportation, the real-time status of the Strait of Hormuz is a key factor affecting oil prices. This morning, Iran unilaterally claimed to have completely closed the strait, causing WTI oil prices to briefly surge to around 73 dollars. Subsequently, the US publicly responded that monitoring shows the strait remains open and normal, with no signs of physical blockade at the moment.

The position held by this address is betting that the US statement will be verified, and oil prices may partially give back the premium; however, if substantial maritime friction erupts again or Iran's claim is confirmed, this address may face partial liquidation due to the extremely narrow liquidation price of 76.5 dollars.