Brent crude oil prices fell below $98, causing significant market activity on May 7. The decline led to the liquidation of two substantial long positions on-chain, totaling 30,500 BRENTOIL contracts valued at approximately $3.02 million. The liquidation prices were set at $99.80 and $97.80, respectively. These positions were established when Brent crude briefly dropped to $98, with traders anticipating a rebound by setting liquidation levels just below $100.