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Posted by
Two Blokes Thu at 1:45 AM -
Filed in
Crypto
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UK-based investment firm Abraxas Capital Management is taking a bold bearish stance on the crypto market, shorting nearly $500 million worth of top cryptocurrencies. According to blockchain analytics platform Arkham Intelligence, Abraxas has opened massive short positions on Bitcoin (BTC), Ethereum (ETH), Solana (SOL), HYPE, and SUI, signaling strong conviction that further price declines are ahead.
