As tensions rapidly rise in the Middle East with the US attacking Iran, new developments have caused the cryptocurrency market to get dumped.
Bitcoin and altcoins have experienced significant get dumped, and a institutional investor who turned these declines into an opportunity made an unrealized profit of approximately 79.9 million dollars from the short positions he opened.
On the blockchain analyst The Data Nerd X's account, it was shared that investment manager Abraxas Capital has opened short positions in Bitcoin (BTC), Ethereum (ETH), Hyperliquid (HYPE), SUI, and Solana (SOL).
An analyst stated that 2 wallets identified as belonging to Abraxas Capital have short positions with 5x-10x leverage in BTC, ETH, HYPE, SUI, and SOL, indicating an unrealized profit of approximately 79.9 million dollars.
"2 wallets ( belong to Abraxas Capital) are currently in a short position in BTC, ETH, HYPE, SUI, and SOL. They are generating an unrealized profit of approximately 79.92 million dollars."
Abraxas Capital's decision to open a short position with a high leverage of 10x indicates that the company is focusing more on risk management in the cryptocurrency sector and aims to protect its portfolio against potential price fluctuations by using significant risk reduction strategies amidst the current market volatility.
Bitcoin started to recover after experiencing a drop and rose above 102 thousand dollars.
*This is not investment advice.
Follow our Telegram group, Twitter account, and Youtube channel immediately for exclusive news, analyses, and on-chain data! Also, start live price tracking by downloading our Android and IOS applications right away!
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
The company that initiated the big rally in Ethereum (ETH) is now shorting Bitcoin (BTC) and these four altcoins!
As tensions rapidly rise in the Middle East with the US attacking Iran, new developments have caused the cryptocurrency market to get dumped.
Bitcoin and altcoins have experienced significant get dumped, and a institutional investor who turned these declines into an opportunity made an unrealized profit of approximately 79.9 million dollars from the short positions he opened.
On the blockchain analyst The Data Nerd X's account, it was shared that investment manager Abraxas Capital has opened short positions in Bitcoin (BTC), Ethereum (ETH), Hyperliquid (HYPE), SUI, and Solana (SOL).
An analyst stated that 2 wallets identified as belonging to Abraxas Capital have short positions with 5x-10x leverage in BTC, ETH, HYPE, SUI, and SOL, indicating an unrealized profit of approximately 79.9 million dollars.
Abraxas Capital's decision to open a short position with a high leverage of 10x indicates that the company is focusing more on risk management in the cryptocurrency sector and aims to protect its portfolio against potential price fluctuations by using significant risk reduction strategies amidst the current market volatility.
Bitcoin started to recover after experiencing a drop and rose above 102 thousand dollars.
*This is not investment advice.
Follow our Telegram group, Twitter account, and Youtube channel immediately for exclusive news, analyses, and on-chain data! Also, start live price tracking by downloading our Android and IOS applications right away!