On April 9, Hyperinsight monitoring showed that two addresses of Abraxas Capital, Hyperliquid’s largest crude oil short position holder, saw their paper gains exceed $12 million in the week following the ceasefire announcement, turning a $9.7 million unrealized loss into a profit. As of publication, these addresses continue to take profits and reduce positions, with remaining unrealized gains of $8.7 million and a total position size of $152 million, including $126 million in combined short positions on WTI and Brent crude oil and $26.1 million in long positions in the cryptocurrency market.
Abraxas Capital's crypto-betting strategy earns $12 million in one week
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Summary
According to AiCoin, Abraxas Capital’s value investing strategy in crypto generated $12 million in profit within one week. On April 9, Hyperinsight tracked two addresses realizing gains after ceasefire news reversed a $9.7 million loss. The “short oil, long crypto” position now holds $8.7 million in unrealized gains. The total position size reached $152 million, comprising $126 million in crude oil shorts and $26.1 million in crypto longs. Capital protection remained a priority as the firm continues to reduce its exposure.
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