Abraxas Capital is shorting the market, building ~$783M in short positions on Hyperliquid.
At the same time, Abraxas Capital is hedging heavily with spot buys, withdrawing 73,872 $ETH($173.17M) from #Binance over the past 4 days.
https://arkm.com/explorer/entity/abraxas-capital-heka-funds
https://hypurrscan.io/address/0xB83DE012dbA672c76A7dbbbf3E459CB59D7D6E36#perps
https://hypurrscan.io/address/0x5b5d51203a0f9079f8aeb098a6523a13F298C060#perps
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