Abraxas Capital Increases $5M ETH Short Position Amid $78.7M Floating Loss

Key Points

1. Abraxas Capital's Ethereum short position is valued at $299 million, opened at $2,826.72 per ETH, with a floating loss of $78.72 million and a liquidation price of $5,096.9.

2. The Bitcoin short position totals $345 million with a 10x leverage, showing a floating loss of $22.3 million.

3. Additional short positions include HYPE (5x leverage) with a $6.89 million loss and SOL (10x leverage) with an $8.51 million loss.

4. The firm's strategy indicates a strong bearish outlook on major cryptocurrencies, despite significant floating losses.

5. Leveraged shorts, especially at 10x, carry high liquidation risks if asset prices rise sharply, amplifying potential losses.