Abraxas Capital Adjusts Short Positions Amidst Market Volatility

Cryptocurrency fund Abraxas Capital has taken a strategic approach to managing market fluctuations, closing portions of its short positions in various cryptocurrencies like Ethereum and altcoins. Data from HyperInsight reveals that the fund closed over 1,870 ETH positions within two hours on October 16th, generating significant profits. Abraxas Capital’s combined portfolio now reaches nearly $7.6 billion. The fund has seen over $245 million in profits over the past week while maintaining an estimated $25 million in unrealized gains.