SHORT THE MARKET now Cause ... Abraxas is shorting the market… while buying the dip on spot.
They taking a pretty interesting approach right now. The firm has built roughly $783M in short positions on Hyperliquid, betting against the market.
But at the same time, it’s aggressively accumulating spot $ETH . Over the past 4 days, Abraxas-linked wallets withdrew 73,872 ETH from Binance, worth around $173.17M.
So while the derivatives book is heavily short, the spot side is stacking ETH. That looks...
$BTC's cleanest setup here? A backtest of the 20-week SMA. That would be textbook bullish continuation—retest support, reload, then rip higher.
But here's the twist: if it just ignores the backtest entirely and keeps grinding up, that's actually even more bullish. Why? Because everyone's positioned for the pullback. When the crowd expects a dip and it doesn't come, that's when shorts get squeezed and FOMO kicks in.
So either way, the setup favors upside. Just depends whether we get the reload ...
$ETH just broke out hard from its long consolidation.
LONG SETUP 🟢
Entry: $2,350-$2,400
SL: $2,295
TP1: $2,485
TP2: $2,550
TP3: $2,650
Daily structure remains bullish above the $2.33K area.
I’m watching the retest, not chasing the pump.
Trade $ETH on Binance.
{future}(ETHUSDT)