Whale Times Oil Top to Perfection, Cashes in on Sharp Sell-Off
On March 10, WTI crude oil prices plunged over 25% within 24 hours, dropping from a high of $116 to just $85.7. Amid the turmoil, a large on-chain trader identified the turning point with remarkable precision, executing a bold short position at the peak.
The wallet starting with 0x434f began building its bearish position at 10:49 AM yesterday, aggressively opening short trades between $112 and $116. It established a 3x leveraged short on Hyperliquid’s crude oil (CL) futures at an average entry of $114, with an initial position size of $1.83 million.
Riding the Downward Momentum with Rolling Positions
As prices collapsed, the trader didn’t exit — instead, they increased exposure through rolling entries, compounding gains. The account balance surged from $470,000 to $1.18 million, effectively doubling the principal in less than a day.
Current Position and Market Implications
The address still holds a $1.72 million 3x leveraged short, with an improved average price of $103.9 and unrealized profits of $350,000 (33% return). No significant liquidation has occurred, suggesting continued bearish conviction.
- On-chain analytics are proving vital for tracking smart money moves
- Leverage, when paired with timing, can generate exponential returns
- Oil’s rally shows signs of exhaustion, opening the door for deeper correction
This move highlights how seasoned traders act when others follow the herd — entering early, exiting wisely, and letting discipline drive profits.