Abraxas Capital is outstanding during critical times when the market is experiencing significant downturns.

Before the market dropped, this fund transferred 85k (2 transactions of 50k and 35k) ETH to Bitfinex around the price of 26.5k two days ago but only withdrew 44M USDT from Bitfinex to a wallet one day ago. Additionally, 17 hours ago, it also transferred 2k ETH to Binance and withdrew 20.5M USD to the wallet.

In the context of a declining market, Abraxas Capital's short positions (Hedging) on $BTC, $ETH, $SOL, $HYPE, and $SUI across the two wallets on #HyperLiquid currently have a floating profit of over 40 million dollars.

As of now, the Hedging positions still remain, and Abraxas Capital is continuously purchasing more USDT from Tether to transfer to exchanges.

According to everyone, is this fund preparing to buy back or still waiting?