The largest short positions on-chain are held by market makers' hedging accounts, with three institutions including Abraxas Capital holding a combined $603 million in positions

Odaily News, according to Lookonchain monitoring, the largest short positions on-chain are currently held by market makers' hedging accounts. Abraxas Capital, Fasanara Capital, and Wintermute collectively hold short positions of 138,569 ETH, valued at $338 million, along with short positions of 3,425 BTC, valued at $265 million.