A major whale established a 30 million scale long position in the "S&P 500" intraday, while simultaneously holding a 10 million crude oil short position to hedge against "oil price retreat."

BlockBeatNews

BlockBeats News, March 26 — According to Hyperinsight monitoring, amid the ongoing tug-of-war expectations in the US-Iran negotiations, the “Largest Long Position in the S&P 500” (0xebe) completed its 15x leveraged S&P 500 long position this morning, with a position size of $29.9 million. The average entry price was $6,597, with a slight unrealized loss of $110,000 (-6%). The liquidation price is $6,220. Currently, it is the largest long position in the S&P 500 on Hyperliquid.

Additionally, this address also holds a total of $10 million in WTIOIL and BRENTOIL (US and Brent crude oil) short positions, with average prices of $91 and $99 respectively, and liquidation prices of $107 and $119. This move may be an attempt to bet on substantial progress in the US-Iran negotiations, with falling oil prices potentially boosting the stock market.

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