Abraxas Capital Faces $101 Million Unrealized Loss on Short Positions

Onchain data indicates that Abraxas Capital holds approximately $703.71 million in perpetual futures positions, almost entirely in short positions, resulting in an unrealized loss of $101.34 million. Losses are primarily attributed to ETH, BTC, HYPE, and SOL, though the address maintains a positive historical cumulative profit of $79.06 million.