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"#oil takes ALL"🤯 WE catch a brutal wipeout… and a perfect example of leverage turning against you.
Trader 0xF35A had built a 5x long on Brent Oil, holding 189,904 contracts (~$20.19M) just 4 days ago -- clearly betting on continued upside in oil.
But the market flipped. after DONALD TRUMP'S POST OF 5 DAY'S ceasefire , As #crudeoil prices dropped, the position got fully liquidated, locking in a loss of about $3.08M.
Well this wasn’t a slow bleed over weeks… it happened fast. With 5x leverage, even a relatively modest move against the position can trigger liquidation, especially at that size.
Here is the trader's address: 0xf35aad55c9941333bfdc69175eba123d8b01338a