Abraxas Capital Increases Gold Short Position with Holdings Reaching $18.8 Million

Abraxas Capital Increases Gold Short Position

According to HyperInsight monitoring data, Abraxas Capital's main address (0x5b5) has continued to add to its gold short positions as the spot gold price hovered around $4,867 per ounce. The holding size has now expanded to $9.18 million, with an average price of $4,786 and a liquidation price of $6,785.

In addition, Abraxas Capital's sub-address (0xb83) also holds 5x leveraged gold short positions at an average price of $4,887. This indicates the institution's continued bearish outlook on the gold market.

From Whale to Reduced Holdings

Abraxas Capital was once the largest contract trader on Hyperliquid by fund size. Since last November, the address has continuously taken profit, reducing its holdings from a peak of $920 million to about $60 million currently.

This significant reduction in holdings suggests that Abraxas Capital is adjusting its investment strategy to cope with the ever-changing market environment.