Abraxas Capital Takes Profit on Bitcoin Short, Two Addresses See Combined $77.9M Profit for the Week

On October 21st, as per the monitoring of HyperInsight, in the past 6 hours, two addresses labeled as Abraxas Capital (0x5b5, 0x83) have partially closed their short positions in BTC to take profits, reducing the nominal value by around $17.7 million. Currently, these two addresses still hold a short position of $232 million. According to the monitoring, the total nominal value held by the two Abraxas Capital addresses is approximately $620 million. In the past 7 days, they have achieved a profit of $77.9 million, with approximately $38.2 million in unrealized gains. It is worthy of note that although both addresses adopt an all-short strategy, there is a significant difference in their allocation: the main address mainly holds mainstream currencies, while its sub-addresses have a diversified layout of multiple altcoins to amplify potential returns. Out of all 24 positions, only the ETH short position of the main address is currently in a loss position.