As news of the Strait of Hormuz closure spread, a whale quickly established a long position of 7.7 million in oil and short ETH.

According to Mars Finance, on March 27th, Hyperinsight monitoring showed that in the past hour, following Iran's announcement that the Strait of Hormuz was closed, a whale with the account starting with 0xfee opened a long position in Brent crude oil with 8x leverage, at an average entry price of $103.3, with a total position size of $6.7 million and a liquidation price of $92.7. Simultaneously, it also briefly opened a short position in ETH with 20x leverage, with a position size of $1.02 million, bringing the total to $7.7 million. This suggests a bet on escalating tensions between the US and Iran, potentially putting pressure on crypto assets during periods of rising oil prices.