💰 $512M PROFIT FROM A FALLING MARKET
Abraxas Capital's two hedging accounts on Hyperliquid are now up more than $512M in total, Lookonchain data shows.
One month ago vs today:
Oct 15 → $331M profit, $1.45B+ in shorts
Nov 14 → $512M+ profit, shorts down to $572M
While $BTC slid from the low $80Ks to $67K, these accounts added roughly $181M in profit while their short book shrank from $1.45B+ to $572M.
They're hedges against spot holdings, not a pure doom bet. But when a short book this size gets cut by more than half, people notice.
Shrinking shorts near $67K: bottom signal or just profit-taking?
#Hyperliquid #BTC #WhaleWatch #Shorts
Abraxas Capital's two hedging accounts on Hyperliquid are now up more than $512M in total, Lookonchain data shows.
One month ago vs today:
Oct 15 → $331M profit, $1.45B+ in shorts
Nov 14 → $512M+ profit, shorts down to $572M
While $BTC slid from the low $80Ks to $67K, these accounts added roughly $181M in profit while their short book shrank from $1.45B+ to $572M.
They're hedges against spot holdings, not a pure doom bet. But when a short book this size gets cut by more than half, people notice.
Shrinking shorts near $67K: bottom signal or just profit-taking?
#Hyperliquid #BTC #WhaleWatch #Shorts
