These 3 Trading Firms Still Bet on a Bitcoin and Ethereum Drop Despite the Rally
TL;DR:
- Abraxas Capital, Fasanara Capital, and Wintermute hold combined short positions of 138,569 ETH and 3,425 BTC on the Hyperliquid platform.
- The joint unrealized losses of these positions reached approximately $75 million following recent market price surges.
- Abraxas Capital executed spot market hedges through withdrawals of 73,872 ETH from Binance over a four-day period.
Three renowned institutional trading firms maintain open short positions valued at over $600 million against Bitcoin and Ethereum this Monday, according to on-chain reports.
The decentralized derivatives platform Hyperliquid recorded a significant open interest volume in bearish positions, even as major digital asset prices experienced rallies over the past 24 hours. On-chain records disclosed by Lookonchain place Abraxas Capital, Fasanara Capital, and Wintermute as the primary institutional holders of these positions.
It seems that all the big whales have been liquidated in this price surge!
Currently, the largest short positions on the blockchain are held by market makers' hedging accounts.
โฆ Continue reading the full article at the original source below.
