On March 11, it was reported that address 0x4cd significantly reduced its Brent crude oil short position by $1.8 million and increased its WTI crude oil short position by $7.12 million, betting that the Middle East situation will cool down and that the decline in U.S. oil prices will be greater than that of Brent. The position information shows unrealized gains and leverage details.

Iran has expressed willingness to negotiate with the United States on the nuclear program and may abandon some nuclear facilities. Market expectations for easing Middle East geopolitical risks have increased. Although the negotiations are expected to stabilize the global energy market, experts still warn to proceed with caution, paying attention to the uncertainties of the agreement and market dynamics. Improved geopolitical relations could stimulate the cryptocurrency market, and investors should remain cautious.