Markets· ★★★· bearish·

Two Hyperliquid Wallets Hold $1.58B in Crypto Shorts Against BTC and ETH

  • —Combined net short exposure of the two Abraxas-linked wallets is about $1.58 billion
  • —Positions include 5,120 BTC and 189,400 ETH worth roughly $948 million
  • —Paper loss on the BTC and ETH positions stands at about $114.5 million
  • —Smaller shorts are also open against SOL, HYPE, ENA, XRP, SUI and PUMP
Why it matters: Large whale shorts can weigh on trader sentiment, though the positions may be hedges rather than a bet on a market crash.
#BTC#ETH#SOL#HYPE
Source: Bitcoin.com
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