Lookonchain said on Sept. 14 that Abraxas Capital’s aggregate short exposure on Hyperliquid has moved above $980 million, putting the firm’s downside bet close to the $1 billion mark if the positions remain unchanged. The disclosed positions include a short of 168,500 ETH with a notional value of about $423.7 million and a short of 2,771 BTC worth roughly $214 million on a notional basis. The rest of the short book involves other crypto assets that were not individually detailed in the update. The figures were cited by BlockBeats in a brief market report, which framed the positions as one of the larger visible bearish bets currently tracked on the platform.
BlockBeats reported on Sept. 14, citing monitoring data from Lookonchain, that Abraxas Capital’s short positions on Hyperliquid had risen above $980 million.
The positions include a short of 168,500 ETH with a notional value of about $423.7 million, along with a short of 2,771 BTC carrying a notional value of roughly $214 million. The remainder of the short exposure involves other crypto assets.
If those positions remain unchanged, Abraxas Capital’s current wager on further market downside is close to $1 billion.
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