And these four altcoins!
As tensions in the Middle East escalate rapidly with the American attack on Iran, new developments have led to a decline in the cryptocurrency market.
While Bitcoin and altcoins have seen significant declines, an institutional investor, who took advantage of these declines as an opportunity, achieved an unrealized profit of approximately 79.9 million US dollars from the short-selling positions he opened.
An online data analyst, The Data Nerd X, reported on his account that the investment management company Abraxas Capital opened short-selling positions in Bitcoin (#BTC ), Ethereum ($ETH ), Hyper Liquid ($HYPE ), Sui, and Solana ($SOL ).
The analyst indicated that the two wallets identified as belonging to Abraxas Capital had short-selling positions with leverage ranging from 5 to 10 times in Bitcoin, Ethereum, Hyper Liquid, Sui, and Solana, and they achieved an unrealized profit of approximately 79.9 million US dollars.
Two wallets (owned by Abraxas Capital) are currently conducting short sales of Bitcoin, Ethereum, Hyper, Sui, and Sol. They are achieving unrealized profits estimated at around 79.92 million US dollars.
Abraxas Capital's decision to open a high-leverage short position at 10x indicates that the company is focusing more on risk management in the cryptocurrency space, aiming to protect its portfolio from potential price fluctuations by applying effective risk mitigation strategies amid current market volatility.
Started #بيتكوين to recover after the drop, rising above 102,000 US dollars.
*This is not investment advice.
