BlockBeats News, March 5th, according to Coinbob Popular Address Monitor data, the pre-market WTI crude oil futures price in the US stock market fell, temporarily dropping to $75, a 2.8% decrease within 1 hour.
Crypto KOL CBB (address: 0xefd) had significantly increased its short position in CL (WTI Crude Oil Perpetual Contract) around 15th today, with the position size rapidly growing to $18 million, average price $77.2, unrealized profit reaching $390,000 (6%), currently the largest on-chain CL short. In the past half hour, the address has closed out nearly $6 million in position size, still actively taking profit as of the time of writing.
On the news front, according to the latest EIA data (as of the week ending February 27), the total crude oil inventory in the Cushing region of the US (WTI’s pricing delivery point) has reached a recent high, and US Treasury Secretary Benett mentioned that the oil market is well supplied.
Crypto KOL CBB (X: Cbb0fe) is a veteran trader and on-chain player, with around 100,000 followers on X social platform, previously gaining wide attention due to the publicized 25-year organized hunting of a multi-billion-dollar BTC short whale event, currently actively trading commodities on Hyperliquid, primarily focusing on short positions.
