Abraxas Capital Adjusts Bitcoin Short Positions Amid Significant Profits

According to BlockBeats On-chain Detection, two addresses associated with Abraxas Capital have recently closed portions of their Bitcoin short positions, reducing their nominal value by approximately $17.7 million. These addresses still hold short positions valued at $232 million. Monitoring data reveals that the total nominal value of Abraxas Capital's holdings across these addresses is approximately $620 million. Over the past week, the firm has realized profits amounting to $77.9 million, with an additional unrealized profit of around $38.2 million. Notably, while both addresses employ a full short strategy, their configurations differ significantly. The primary address is heavily invested in mainstream cryptocurrencies, whereas the subsidiary address diversifies across various altcoins to amplify potential returns. Among the 24 positions held, only the primary address's Ethereum short position remains at a loss.