Abraxas Capital Restructures Short Positions Amidst Bitcoin Consolidation

Abraxas Capital has adjusted its short positions on various cryptocurrencies following recent fluctuations in the Bitcoin market. According to BlockBeats, the firm has closed multiple short positions across several assets, including Solana (SOL), Bitcoin (BTC), Pump token (PUMP), and XPL, likely aiming for profitable exits. Over a span of time, these addresses have secured profits by closing around 46,000 SOL (valued at $8.94 million), 83 BTC ($9.28 million), approximately 171 million PUMP ($650,000), and about 2.08 million XPL ($870,000). ]