Abraxas Capital Holds $1.29B in Shorts on Hyperliquid
Abraxas Capital's Hyperliquid hedging accounts have booked $353M+ in profit and continue to hold over $1.29B in short positions — a significant bearish overhang.
What we know
An account on X tracked two Abraxas Capital accounts on Hyperliquid that have cumulatively profited over $353M and currently maintain $1.29B in open short positions. Simultaneously, a separate whale moved $37.83M in $HYPE to Coinbase via 3 wallets in 24 hours — a likely sell signal. Combined, these on-chain signals suggest significant institutional bearish pressure in the crypto derivatives market.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.