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

Apr 08, 2026 08:42 UTC

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

  • A crypto whale walked away with a huge profit early Wednesday after U
  • S
  • -Iran ceasefire news sent oil prices crashing

A crypto whale walked away with a huge profit early Wednesday after U.S.-Iran ceasefire news sent oil prices crashing. The trader "Loracle" had shorted $5 million in crude oil perpetual futures on Hyperliquid last week. As oil prices cratered over 15% below $100 per barrel early Wednesday, Loracle squared off the bearish bet, pocketing $2 million,per Arkham Intelligence. Loracle's crypto holdings, comprising USDT, USDC, ETH, and others, total over $8 million as of this writing. This shows how traditional markets on decentralized platforms like Hyperliquid are helping crypto traders mint fortun

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