ETH Whale Closes $2.04M Long After 34 Days, Shifts to $62.45M Short as Abraxas Capital’s Largest ETH Short Realizes ~$10.41M Profit

COINOTAG News, November 5, notes that, per HyperInsight monitoring, the Staunchly Long ETH whale (0xb9f) closed its ETH long position today with a $2.04 million loss. The position was held for over 34 days after a dip purchase on November 10, briefly flashing a floating profit near $6 million and peaking at $71.75 million, before switching to a ETH short at $3,337 with $62.45 million exposure.

At Hyperliquid, the largest ETH short position from Abraxas Capital (0x5b5) opened May 9 and has turned into a $10.41 million gain (roughly 61%). Current size sits near $170 million with an average price around $3,530; October exposure topped $300 million, with losses surpassing $50 million at times. As of November 3, among 22 short positions across two addresses, only this ETH short remains in a floating loss.