"Firmly bullish on ETH" giant whale cuts losses on long positions and has overnight switched to short positions. Abraxas Capital's nearly 5-month short position has turned profitable today

According to monitoring by HyperInsight, the "determined long ETH" whale (0xb9f) ended today's ETH long position with a loss of 2.04 million USD, having held the position for over 34 days since bottom-fishing on October 11. At one point, the position had a floating profit exceeding 6 million USD (about 300%), with the maximum position size reaching 71.75 million USD. It was previously ranked second in long positions for ETH contracts on Hyperliquid but has now flipped to the short camp, opening an ETH short position at an average price of 3,337 USD, with a position size of 62.45 million USD.

Additionally, monitoring shows that the largest short position on ETH contracts on Hyperliquid, held by "Abraxas Capital" main address (0x5b5), opened an ETH short position on May 9 and has now turned a profit, with a floating profit of 10.41 million USD (about 61%). The current ETH position size is approximately 170 million USD, with an average price of 3,530 USD. Previously, in October, its position size reached 300 million USD, with a floating loss exceeding 50 million USD at one point. As of November 3, among its 22 short positions across two addresses, only the ETH short position still has a floating loss.