THIS MEGAFUND’S ACCOUNTS ARE DOWN OVER $100 MILLION SHORTING CRYPTO
Two Abraxas Capital accounts are shorting over $919.9M of crypto including BTC, ETH, HYPE and WLFI on Hyperliquid. They are currently at a loss of over $106.6M.
Their BTC liquidation prices are $151.53K and $149.91K respectively.
Accounts:
0x5b5d51203a0f9079f8aeb098a6523a13F298C060
0xB83DE012dbA672c76A7dbbbf3E459CB59D7D6E36

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N.B.
Abraxas Capital also holds in their entity over $2.49B of BTC and $486M of ETH making these positions delta-positive [i.e. net long, not short].
They may be farming funding rates on Hyperliquid. It is also possible that they have additional positions on Binance or CEXs which cannot be seen on-chain.