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I noticed Abraxas Capital's move in the gold market. According to The Data Nerd's data, recently this fund has increased its position again in gold and is currently holding a short position of $5.14 million. The interesting part is that Abraxas's strategy is not limited to gold alone.
This fund also has significant spot comparative positions in Bitcoin and Ethereum on Hyperliquid. In other words, Abraxas is not betting on just a single asset; it balances movements across different markets with delta-neutral strategies. The short position in gold seems to be just one part of this broad portfolio strategy. Fund managers are clearly following a diversified approach.