Abraxas Capital Trims BTC Short by $17.7M as Bitcoin Short Exposure Reaches $620M

According to HyperInsight, on October 21, two addresses labeled as Abraxas Capital (0x5b5, 0x83) trimmed portions of their BTC short positions to lock in profits, reducing nominal exposure by roughly $17.7 million in the last six hours.

Despite this, the pair still maintains a substantial bearish footprint, with around $232 million in short BTC exposure and a combined nominal value near $620 million across both addresses.

Over the past week, the strategy has delivered $77.9 million in realized profit and about $38.2 million in unrealized gains. The main address concentrates on mainstream assets while sub-addresses pursue a diversified altcoin slate to enhance upside.

Among 24 positions, only the ETH short on the main address remains in the red; otherwise, the group’s shorts sit in a mix of neutral and profitable states, reflecting a directional bet with measured risk controls.