Abraxas Capital’s High-Leverage Short Positions: BTC and ETH Experience Over $7 Million in Unrealized Losses

On May 21st, COINOTAG reported that Abraxas Capital has maintained its strategy by increasing **short positions** in both **Bitcoin** (BTC) and **Ethereum** (ETH) using a **10x leverage**. Currently, the investment firm is contending with an unrealized loss of approximately **$5.91 million** in its BTC holdings, while the ETH short position is incurring a loss of about **$2.03 million**. In contrast, their engagement in the **Solana** (SOL) market showcases a different outcome, as they are realizing a **$1.3 million** profit on their **10x short position**. This move underscores Abraxas Capital’s tactical approach amidst market volatility, reflecting an ongoing trend where institutional investors strategize hedge positions against potential downturns in the cryptocurrency landscape. As digital assets remain subject to fluctuating market dynamics, investors keenly observe such maneuvers for insights into broader market sentiments.