Abraxas Capital Spot Hedging Account Increases 10x Short Positions on ETH and BTC

According to Jinse Finance, on-chain data shows that Abraxas Capital has increased its spot hedging by adding 10x short positions in ETH and BTC. Currently, it holds Bitcoin short positions worth $345 million and Ethereum short positions worth $291 million. This address has accumulated a total loss of $82.64 million on Hyperliquid.