Abraxas Capital Expands Gold Short Positions Amid Market Movements

On February 5, Abraxas Capital's main address (0x5b5) increased its short positions on xyz:GOLD contracts, with spot gold priced around $4,867. According to BlockBeats On-chain Detection, the position size has grown to $9.18 million, with an average price of $4,786 and a liquidation price of $6,785. Additionally, its sub-address (0xb83) currently holds a 5x leveraged short position on xyz:GOLD, with an average price of $4,887. Abraxas Capital was once the largest contract whale on Hyperliquid in terms of capital size. Since November, the address has been consistently taking profit, significantly reducing its position size from a peak of $920 million to approximately $60 million.