Major Bitcoin Bear Bets on Crude Oil Futures

Summary：Crypto whale builds leveraged long positions in oil, signaling cross-asset trading shift.

On-chain data reveals that the wallet address "pension-usdt.eth," considered one of the major Bitcoin bears, has begun to diversify into the traditional asset market by establishing long positions in crude oil futures.

According to monitoring, this address has been continuously going long on CL crude oil futures in the $83.5 to $87 range and is currently holding a total long position of approximately $2.54 million with about 2x leverage, at an average entry price of around $84.7.

This trader previously focused on large-scale swing trading in the Bitcoin and Ethereum markets, maintaining significant short positions over the long term. Market observers believe that this move into the energy derivatives market reflects that some crypto funds are beginning to seek cross-asset allocation opportunities.

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Written byTraderKnows

Created date:2026-03-11 15:33

Last Updated:2026-03-11 15:50

Independent Analysis: Manually researched and fact-checked by the TraderKnows Compliance Team, based on public regulatory records.

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