During the consolidation period, Abraxas Capital swiftly closed out multi-currency positions, reducing its holdings by nearly $20 million for a short period.

BlockBeats News, October 14th, according to HyperInsight monitoring, in the past 1 hour, two addresses labeled as Abraxas Capital (0x5b5, 0xb83) have started to deleverage their short positions on multiple coins to take profit as Bitcoin dropped to $111,800 and entered a consolidation phase.

The specific reduction details are as follows:

- SOL: approximately 46,000 tokens, worth around $8.94 million;

- BTC: approximately 83 coins, worth around $9.28 million;

- PUMP: approximately 171 million tokens, worth around $650,000;

- XPL: approximately 2.08 million tokens, worth around $870,000.

As of now, the total holding of the main address of Abraxas Capital is around $630 million, a decrease of about $110 million from last week; the total holding of the sub-addresses is around $203 million, a decrease of about $120 million from last week, and their trading direction is basically consistent with the main address.

It is worth noting that both addresses are fully short positions, but their strategy preferences are slightly different: the main address heavily shorts mainstream coins to express a macro bearish view, while the sub-address amplifies its returns through a diversified basket of altcoins. In the past 7 days, these two addresses have ranked second and third in the profit leaderboard, respectively.

BlockBeats reminds investors that the recent cryptocurrency market has experienced significant volatility, and investors need to pay attention to risk management.