WTI Crude Oil Surges to Nearly $80 at Close: Largest On-chain Long Position Takes Profit, Opening 14.17 Million Longs in Pre-market Yesterday

March 6th — Per Coinbob Popular Address Monitoring, WTI crude oil surged above $82 intraday to hit a recent high before closing at $79.4. On Hyperliquid, the CL (WTI crude oil futures contract) remains locked in a tug-of-war between longs and shorts. An address starting with 0xf4b opened a 20x leveraged long position on CL ahead of yesterday’s U.S. stock market open, with a peak position size of $14.17 million. After WTI jumped above $81 this morning, the address partially closed the position at an average price of ~$81.2, locking in roughly $470k in profits. It still holds a 20x leveraged long position on CL, with a current size of $5.05 million, a floating profit of $150k (38%), and an average entry price of $76.9. The address is now the largest on-chain long holder of CL. Notably, this address has shorted CL (WTI crude oil) and EWY (South Korea ETF) five times recently. After a quiet spell in mid-February, it has reactivated lately, posting a weekly profit of $1.51 million and pushing its current account balance to $1.95 million.