⚡Abraxas' $100M short pain🤢

⚡The phrase "Abraxas' $100M💸 short pain" refers to significant financial losses incurred by Abraxas Capital due to its short positions in the cryptocurrency market.🔥🔥

Here's a breakdown of what that means:

* Abraxas Capital: This is an investment firm that has been identified as a major player in cryptocurrency trading.

* Short Position/Short Selling: In finance, "shorting" or "short selling" is a strategy where an investor borrows an asset (like a stock or cryptocurrency) and sells it, expecting its price to fall. If the price does fall, they buy it back at a lower price, return it to the lender, and profit from the difference.

* "$100M short pain" (or similar figures like $107M, $115M, $131M): This indicates that Abraxas Capital's short positions in various cryptocurrencies have resulted in substantial unrealized losses (also known as "floating losses") exceeding $100 million. This "pain" comes from the fact that the prices of the cryptocurrencies they shorted have actually risen instead of fallen, meaning they would have to buy them back at a higher price to close their positions, leading to a loss.

Recent reports (as of late July 2025) confirm these losses:

* Abraxas Capital has been actively shorting cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Sui (SUI), and Hype (HYPE).

* The broader cryptocurrency market has experienced a significant surge, causing these short positions to go against Abraxas Capital, leading to substantial financial pressure.

* Some reports indicate their floating losses have even exceeded $131 million at times, and they have reportedly added to their ETH short position despite mounting losses.

* Their strategy, which often involves high leverage, carries considerable liquidation risk if crypto prices continue to rise.

In essence, Abraxas Capital bet on a decline in crypto prices, but the market moved in the opposite direction, causing them to experience significant financial losses on their short positions.