Abraxas Capital Shorting BTC: Offloads 171 BTC, Suffers $23.91M Unrealized Loss; Sub-Address Dumps 83 BTC ($9.66M Loss)

HyperInsight on-chain monitoring reports that the address associated with Abraxas Capital (0x5b5d) has been executing continuous BTC shorting with stop-losses over the past five hours. As of 18:00 (Beijing Time), the wallet shows a reduction of 171 BTC and records an unrealized loss of $23.91 million, per the monitoring data.

A related sub-address (0xb83d) appears to have mirrored the main wallet’s activity, selling 83 BTC and carrying an unrealized loss of $9.66 million. Both addresses exhibit coordinated sell execution consistent with stop-loss-driven position management.

The published on-chain figures from HyperInsight are presented as reported; these observable metrics — unrealized P&L and net position changes — offer concrete data points for traders and analysts conducting position and risk assessments.