Crude Oil Sees Increased Leveraged Long Positions Amid Price Drop

Large onchain investors have initiated new leveraged long positions in crude oil following its price decline below $85. According to NS3.AI, one investor opened a 20x long position valued at $8.95 million. Another investor deposited $5 million in USDC before establishing a 1x long position in crude oil. Additionally, a third investor took a $3.5 million 7x long position in crude oil while maintaining $14.5 million in 5x short positions on Bitcoin and Ethereum.