Crypto whale holding oil shorts walks away with $2 million in profit

What Happened

A crypto trader identified as Loracle closed a $5 million short position in crude oil perpetual futures on Hyperliquid early Wednesday, profiting $2 million after oil prices dropped over 15% following U.S.-Iran ceasefire news. Loracle's total crypto holdings exceed $8 million. Hyperliquid's oil futures generated $2.45 billion in trading volume in 24 hours.

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