The Hyperliquid wallet linked to Abraxas holds $1.58 billion in crypto short positions, with BTC and ETH shorts totaling $948 million.

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The Fear and Greed Index remains in fear territory as a Hyperliquid wallet linked to Abraxas Capital holds $1.58 billion in crypto short positions, including $948 million in BTC and ETH. As of October 6, 14:55 ET, the wallet holds 189,400 ETH and 5,120 BTC, with a realized loss of $115 million. On-chain data indicates large deposits and potential spot hedges. Altcoins to monitor include SOL, HYPE, ENA, XRP, SUI, and PUMP, all of which have significant short exposure.

Odaily Planet Daily reports that two Hyperliquid wallets associated with Abraxas Capital Management hold a combined net short exposure of approximately $1.58 billion, with Bitcoin and Ethereum-related positions valued at around $948 million. As of 2:55 PM Eastern Time on October 6, these wallets maintained the aforementioned positions.

The two related wallets include approximately 189,400 ETH and 5,120 BTC, with a paper loss of about $115 million. On-chain data shows that both addresses hold substantial assets and have recorded millions of dollars in deposits, suggesting that the spot positions may hedge part of the short exposure.

The London-based investment firm Abraxas Capital Management has been identified by Nansen and Arkham Intelligence as the entity associated with these addresses, with Arkham labeling its connection to Heka Funds. In addition to BTC and ETH, the two wallets hold short positions in assets such as SOL, HYPE, ENA, XRP, SUI, and PUMP. (Bitcoin.com News)

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