Abraxas Capital's Massive $750M Crypto Short Positions Facing Severe Losses and Liquidation Risks

I observe that Abraxas Capital is executing short positions exceeding $750 million across various cryptocurrencies, including Bitcoin, Ethereum, HYPE, SOL, and SUI. The leveraged shorts involve significant amounts, with Bitcoin at 10x leverage on $340.2 million amounting to approximately 2,908 BTC, which has incurred a loss of $17.4 million or 54%, approaching a liquidation price of $153,286. Similarly, Ethereum at 10x leverage on $303.1 million with 72,454 ETH has suffered a severe loss of $90.6 million or 426%, nearing a liquidation point at $5,628.8. Other assets like HYPE and SOL also face substantial losses at 5x and 10x leverage, respectively, indicating aggressive short strategies. Interestingly, SUI at 10x leverage shows a profit of $102,000 with a 38.5% increase, with a liquidation threshold at $157.37.