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On-chain crude oil TOP 1 short seller “Abraxas Capital” continues to take profits. The “Short oil, more crypto” portfolio position generates a weekly profit of 12 million
ME News Report, April 9 (UTC+8), according to Hyperinsight monitoring, the largest crude oil short position holder on the Hyperliquid platform, “Abraxas Capital,” saw a significant recovery in their account value within nearly a week after the ceasefire news, with funds increasing by over $12 million. The “short oil, long crypto” combined position successfully turned profitable from a previous floating loss of $9.7 million. As of the latest report, both addresses continue to close positions and reduce holdings, with the current floating profit still reaching $8.7 million.
After this round of reduction, the total position size remains at $152 million, including approximately $126 million in short positions on WTI and Brent crude oil, and about $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 reduced from $92 million to $78 million, average price around $96;
WTICRUDE short (5x leverage): size reduced from $51 million to $48.5 million, average price around $95.
Addresses: 0x5b5d51203a0f9079f8aeb098a6523a13F298C060
Addresses: 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36 (Source: BlockBeats)