Abraxas Capital's short position in Hyperliquid has a floating loss of more than $100 million

According to Arkham, Abraxas Capital's short positions in BTC and ETH on the Hyperliquid platform have lost over $100 million. The account currently shorts BTC, ETH, SOL, and HYPE, with a total short position approaching $800 million and a paper loss of $106.3 million.