Abraxas Capital sits on $101M unrealized loss across $704M short book
- —Abraxas Capital's perpetual positions total about $704 million, nearly all short
- —Unrealized loss stands at roughly $101 million
- —ETH shorts are down $41.23 million, BTC shorts $23.36 million
- —HYPE and SOL shorts lost $17.05 million and $15.76 million respectively
Why it matters: A major short seller deep in the red signals the strength of the current rally and raises the risk of forced unwinds that could fuel further upside.
Source: PANews
More on this
Markets · Sep 23Bitcoin Breaks $85,000 as ETF Inflows Hit $435M and XRP Options Heat Up
Regulation · 21:51CLARITY Act failure hits Coinbase, Circle and Strategy as shares fall 5–10%
Regulation · 19:56China's central bank reaffirms crypto ban, bars offshore yuan stablecoin issuance without approval