Abraxas Capital: $980M Hyperliquid Shorts

Abraxas Capital now holds over $980M in short positions on Hyperliquid including 168,549 ETH worth $423.7M and 2,771 BTC at $214M.

With ETH price at $2500.92 testing upper Bollinger resistance at $2559.97 while RSI(14) at 49.97 stays neutral, a healthy retracement to the 50-EMA support at $2491.97 seems probable before further continuation as the MACD death cross signals weakening momentum against the broader bullish EMA structure.