Abraxas Capital Two Addresses Net $77.9M in One Week, Trim BTC Short Positions

Two addresses linked to Abraxas Capital reduced their BTC short positions by approximately $17.7 million in nominal value over the past six hours, HyperInsight data show. The addresses still hold $232 million in BTC shorts, with total position nominal value around $620 million. They have realized $77.9 million in profits over the past seven days, with unrealized gains of about $38.2 million. While both use an all-short strategy, the primary address focuses on major cryptocurrencies and the sub-address diversifies across altcoins; currently only the primary address's ETH short is in loss.