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BlockBeats news, on July 1, Hassett, Director of the U.S. White House National Economic Council, stated that the U.S. economic growth in the second half of the year is expected to be around 4%. (Golden Ten Data)

BlockBeats News, on July 1, according to Hyperinsight monitoring, WTI crude oil fell back below $69. Hyperliquid's largest WTIOIL long whale (0x007d) faced two large-scale liquidations within about one hour, with a total of 180,000 contracts liquidated at an average forced price of approximately $68.35, resulting in a loss of about $3.463 million. This whale originally held a 20x leveraged WTIOIL long position with an average entry price of $87.59 and a liquidation price near $68.56. In the first partial liquidation, 36,000 CL were liquidated with a loss of about $690,000. Afterwards, the remaining 144,000 CL were fully liquidated, resulting in a loss of about $2.773 million. Based on margin estimate at entry, the final loss on this position exceeded the principal by roughly 410%. This long position’s liquidation threshold was set at the oil price level before the US-Iran conflict. Based on contract prices, on February 28, the US-Iran conflict began with initial air strikes and oil price was about $68.5 that day, later surging to nearly $118 on geopolitical risk, a rise of about 72%. This whale did not close the position at the high point. As crude oil kept dropping from the highs, it was eventually forcibly liquidated by the system near $68.35, giving back all gains since February 28. The price is currently around $68.8. Onchain data shows major WTI crude oil holders are clearly positioned net short. The nominal short position at million-dollar scale is about $61.46 million, 2.32 times the long side's $26.46 million; the average long entry price is about $84.27, so overall long positions are already deeply underwater.

On July 1, according to market news, Saudi Aramco has sold millions of barrels of crude oil in the Asian spot market.