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Institutional Firms Hold $603M in Combined Crypto Shorts Amidst Rally

Guavy AI Editorial Team
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Three institutional trading firms, Abraxas Capital, Fasanara Capital, and Wintermute, hold approximately $603 million in combined short positions on Bitcoin (BTC) and Ethereum (ETH) on the decentralized exchange Hyperliquid.

The shorts total around 3,425 BTC and 138,569 ETH, resulting in unrealized losses of about $75 million. This suggests a deliberate bearish bet or hedging strategy amidst a strong rally driven by macroeconomic factors.

Bitcoin has surged past $70,000, while over $4 billion in crypto shorts were liquidated.

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