Abraxas Capital: Deposits $2M into Hyperliquid Shorts

Abraxas Capital linked wallet deposited another $2M into Hyperliquid, lifting its book to $35.92M with 98.5% short exposure.

Largest bets include a $HYPE short at $20.51M showing a $3.95M floating loss, alongside $SOL, $GOLD and $FARTCOIN shorts, netting $9.87M in funding fees while sitting $2.55M underwater on open positions.

HYPE price prediction hinges on the 4h chart where price at $72.43 tests upper Bollinger resistance at $72.86 while the EMA50 at $67.44 and EMA200 at $64.49 act as concrete long-term support; with MACD golden cross at 1.27 confirming trend strength and RSI at 69.05 still neutral, a healthy retracement toward the 50-EMA floor looks probable before any continuation higher.