🚀 Abraxas Capital Closes Major Oil Short Positions, Shifts Focus to Bitcoin and Gold
On April 10, Hyperinsight monitoring revealed that Abraxas Capital, previously the largest oil short seller on the Hyperliquid platform, closed its significant WTIOIL and BRENTOIL short positions this morning. According to BlockBeats, the positions, valued at approximately $160 million, were closed at average prices of $95 and $95.5, respectively, resulting in a total profit of around $10.15 million.
Following the closure of these positions, the entity has not initiated any large-scale new positions. Currently, its main holdings include a long position in Bitcoin valued at $20.5 million and a short position in gold amounting to $30.8 million.
It is reported that since March 26, the address had aggressively opened oil short positions, with the position size peaking at $160 million. After recent ceasefire news, the holdings shifted from an unrealized loss of $9.7 million to a profit, which at one point expanded to nearly $10 million, before profit-taking began yesterday afternoon.
#AbraxasCapital#OilShort#Bitcoin#Gold#WTIOIL#BRENTOIL#Hyperliquid#CryptoInvesting#CommodityTrading#BTC
🚀 Abraxas Capital's Oil Short Positions Recover Following Ceasefire Announcement
On April 9, Hyperinsight reported significant financial recovery for Abraxas Capital, a major oil short institution on the Hyperliquid platform. According to BlockBeats, the recovery occurred within a week following the announcement of a ceasefire, with funds rebounding by over $12 million. The combination of oil shorts and crypto longs, which previously faced a floating loss of $9.7 million, has now turned profitable. As of the latest update, the two addresses continue to synchronize profit-taking and position reduction, maintaining a floating profit of $8.7 million.
Following the recent reduction in positions, the total holding size remains at $152 million. This includes approximately $126 million in short positions on U.S. and Brent crude oil, and $26.1 million in long positions in the crypto market. Details of the oil short positions are as follows:
Brent Oil shorts (5x leverage) have decreased from $92 million to $78 million, with an average price of around $96.
WTI Crude shorts (5x leverage) have reduced from $51 million to $48.5 million, with an average price of approximately $95.
Addresses involved are 0x5b5d51203a0f9079f8aeb098a6523a13F298C060 and 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36.
#AbraxasCapital#OilShortPositions#CeasefireAnnouncement#FinancialRecovery#Hyperinsight#BlockBeats#CryptoLongs#ProfitTaking#WTICrude#BrentOil#OilMarket#LeverageTrading#PositionReduction#FloatingProfit#CryptoMarket#U.S.Crude