Abraxas, Fasanara and Wintermute hold more than $600 million in ETH and BTC shorts

AI Market Summary

Lookonchain data show Abraxas Capital, Fasanara Capital, and Wintermute holding large on-chain shorts totaling 138,569 ETH (~$338m) and 3,425 BTC (~$265m). The note that whales may have been liquidated during the recent surge implies short-covering and crowded positioning risk. Near term, this can increase volatility and liquidity sensitivity, with ETH most directly exposed given the larger notional short.

Impact level

● Medium

Affected assets

ETH/USDT+1.53%

AI Insight · ETH/USDTAI Insight

● Neutral

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PANews, Aug. 24 — Lookonchain data shows the largest on-chain short positions are concentrated in market maker hedging accounts, while a number of large whale short positions appear to have been liquidated during the recent rally. Abraxas Capital, Fasanara Capital and Wintertermute together hold shorts of 138,569 ETH (about $338 million) and 3,425 BTC (about $265 million).

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