Crypto trader CBB has significantly increased his short position in WTI crude oil on the Hyperliquid platform, reaching $13.5 million. This move comes as the price of the CL contract rose 5.4% to a high of $78, before settling at $76.40. CBB's average entry price for the short position is $77.52, yielding an unrealized profit of approximately $80,000. The trader, known for his strategic market plays, began building the short position when the CL price was around $74. In addition to crude oil, CBB has also increased his long positions in gold and silver, with current holdings valued at $8 million. This strategy suggests a belief in a short-term decline in crude oil prices while expecting continued demand for gold and silver as safe-haven assets.
CBB Expands Crude Oil Short Position to $13.5M Amid Price Surge
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