Hyperliquid Whale Opens $19.8M WTI Short as Oil Extends Losses 5.45% Today

According to BlockBeats citing Hyperinsight data, on June 12, oil prices extended declines following reports that a peace agreement between the U.S. and Iran could be signed as early as this weekend, with plans to reopen the Strait of Hormuz and eliminate transit fees. WTI crude dropped 5.45% in 24 hours on Hyperliquid, while Brent crude fell 5.5%.

A major whale opened 235,200 WTI contracts using 20x leverage, establishing a $19.8 million short position at an average price of $84.97, becoming the second-largest short holder on Hyperliquid. The same whale holds approximately $70 million in combined short positions across both crude oil contracts, with current unrealized gains of $5.9 million.