Abraxas-linked wallets hold $1.58bn crypto shorts on Hyperliquid
Two Hyperliquid wallets linked to London's Abraxas Capital Management carry a combined $1.58bn net short book, with bitcoin and ether the largest positions, Bitcoin.com News reports.
Why it matters: The wallets' size and Abraxas link make their short book a visible signal for traders watching bitcoin and ether positioning.
Key points
- The two wallets hold a combined net short exposure of about $1.58bn, including 189,400 ETH and 5,120 BTC.
- Their bitcoin and ether positions alone are worth roughly $948m, with a paper loss of about $114.5m.
- Nansen and Arkham Intelligence label the addresses as belonging to Abraxas Capital Management, a London firm managing billions.
Two Hyperliquid wallets linked to Abraxas Capital Management are carrying a combined net short book of about $1.58bn, Bitcoin.com News reports. The positions were spotted after the X account Hyperbot flagged them on Monday, and both wallets appear to run parts of the same large short trade.
The book includes 189,400 ETH and 5,120 BTC. Onchain data from hypurrscan.io puts the wallets' combined bitcoin and ether positions at roughly $948m, with a paper loss of around $114.5m. Both addresses hold substantial assets and have logged millions in deposits, the report says.
Short book draws attention
Arkham's label reads "Abraxas Capital Mgmt (Heka Funds)".
Bitcoin.com News says such bearish concentration can reflect hedging or provisioning rather than insider knowledge, and that visible whale positioning can distort crowd psychology.
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