Whales are also reducing their positions, feeling like the market is waiting for a direction.

Crypto News, Abraxas Capital main address increased its short position of 7,483.02 SOL on the HyperLiquid platform, approximately $649,769.22. The current position size is $2,926,189.75, with an average price adjusted from $86.44 to $86.54, and a current profit and loss of -$10,827.26 (-3.70%). The current token price is $86.86, and the liquidation price is $415.47. This address has been building a position since May, once being the whale with the largest contract fund size on HyperLiquid, and has been continuously taking profits since November, with the position size once reaching $920 million.