Abraxas Capital spot hedge account increases position by 10 times ETH and BTC short positions

According to BlockBeats news, on July 21st, according to on chain information, Abraxas Capital's spot hedging increased its position by 10 times in ETH and BTC short positions. Currently, it holds a total of $345 million worth of Bitcoin short positions and $291 million worth of Ethereum short positions. The address has incurred a cumulative loss of $82.64 million on Hyperliquid.