The firm’s two addresses boosted nominal contract holdings by $280M in 24 hours, signaling increasing bearish pressure across major digital assets.
Abraxas Capital expanded its short exposure significantly within 24 hours, with BTC shorts rising to $2.8 billion, ETH shorts reaching $2.67 billion, and HYPE shorts totaling $103 million. Its two tracked addresses saw account balances increase from $165 million to $256 million, while nominal contract holdings jumped from $480 million to $760 million. The positions generated a total unrealized profit of $50.2 million, highlighting aggressive bearish moves in the cryptocurrency market.