Brent crude briefly fell below $98, triggering the liquidation of two on-chain whale long positions totaling $3 million

BlockBeats news, on May 7, according to Hyperinsight monitoring, Brent crude oil fell back briefly, and BRENTOIL on Hyperliquid dropped below $98, once again losing the $100 mark.

This decline triggered forced liquidation of two major on-chain Brent crude oil long whale positions, totaling 30,500 BRENTOIL long contracts worth about $3.02 million, with liquidation prices at $99.8 and $97.8 respectively.

Both whales opened their positions last night, when Brent crude oil experienced a sharp drop to $98 followed by a slight rebound. Both chose to go long near $100 and set their liquidation lines just below $100, likely aiming to capture a bounce.

Address: 0x6fefdc7b1f6e21c2df6564444547a88d3682e993

Address: 0x20b7807939c774a152b396beb704acac68fa10fe