In a market ROARING upward, SHORTING has turned into a costly gamble for Abraxas Capital.
Bleeding in a Bull Run: Abraxas Capital Faces $190M Short Squeeze Pain
Two of their accounts are shorting $ETH , $BTC , $SOL , #HYPE , and #SUI as a hedge against their spot holdings — but the move has backfired spectacularly.
Total Unrealized Losses: Over $190M
Biggest Drag: 113,819 ETH short positions worth $483M — currently down more than $144M alone.
Addresses:
0xB83DE012dbA672c76A7dbbbf3E459CB59D7D6E36
0x5b5d51203a0f9079f8aeb098a6523a13F298C060