📉 Abraxas Capital shorts the market

Abraxas Capital does not believe in continued growth, so it opened short positions for $800 million on the Hyperliquid exchange.

☹️ They are currently at a loss of about $100 million, but a small part of these losses is covered by the funding earned.

Perhaps this is a hedge position, and the company simply decided to play it safe in case of a deep correction 🤔$BTC