Abraxas Capital: Buys 13,700 ETH Amid $1B Shorts

Abraxas Capital purchased another 13,700 $ETH ($34.24M) in spot while its Hyperliquid short positions approach $1B, featuring a 178,532 $ETH ($437M) short.

Price at $2445.35 tests lower Bollinger support at $2454.8 on the 4h chart with EMA50 resistance at $2491.61 and MACD death cross at -4.9, confirming bearish momentum that aligns with ETH price prediction scenarios of extended downside before any relief rally.