Abraxas Capital Doubles Down on Short Positions with High Leverage

Abraxas Capital has intensified its bearish stance by significantly increasing the size of its short positions in both Bitcoin (BTC) and Ethereum (ETH), employing a hefty 10x leverage, as revealed by Onchain Lens data. The firm currently faces an unrealized loss of $5.91 million on its BTC holdings and $2.03 million on its ETH exposure. It’s worth noting that Abraxas Capital also maintains a 10x leveraged short position in Solana (SOL), which currently shows a floating profit of $1.3 million.