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On-chain crude oil TOP 1 short seller "Abraxas Capital" continues to take profits, "short oil, long crypto" portfolio position weekly profit of 12 million
ME News message: On April 9 (UTC+8), according to Hyperinsight monitoring, after the ceasefire news was implemented, two addresses of the largest crude oil short institution on the Hyperliquid platform, “Abraxas Capital,” saw a significant rebound in their books over nearly a week. Funds increased by more than $12 million, and the “short oil, long crypto” portfolio position successfully turned profitable from the previous floating loss of $9.7 million. As of the time of writing, both addresses continue to take profits and reduce positions in sync, and the current floating profit still stands at $8.7 million.
After this round of position reduction, the current total position size remains at $152 million. This includes a combined $126 million in short positions on both WTI and Brent crude oil, and a combined $26.1 million in long positions in the crypto market. The details of the crude oil short positions are as follows:
BRENTOIL short (5x leverage): size decreased from $92 million to $78 million, average price around $96.
WTICRUDE short (5x leverage): size decreased from $51 million to $48.5 million, average price around $95.
Addresses:
0x5b5d51203a0f9079f8aeb098a6523a13F298C060
0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36 (Source: BlockBeats)