Abraxas Capital Doubles Down on Short Positions Amid Market Turmoil

Abraxas Capital has significantly bolstered its short positions in Bitcoin and Ethereum, reflecting increased market volatility. The firm’s recent actions have resulted in substantial floating losses of $5.91 million for BTC and $2.03 million for ETH. Notably, their SOL short position generated a floating profit of $1.3 million. This strategic move highlights the complex dynamics within the cryptocurrency markets.