The largest on-chain crude oil short-selling institution, "Abraxas Capital," has lost nearly $10 million, with a total position of $159 million.

BlockBeatNews · 2026-04-02T09:36:21+00:00

The ceasefire expectations were not realized, leading to a rise in oil prices. Hyperliquid data shows that the largest crude oil holding address, "Abraxas Capital," has an unrealized loss of $9.7 million, with total short positions reaching $159 million.

BlockBeatNews

2026-04-02 09:36:21

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BlockBeats message, April 2, according to Hyperinsight monitoring, hopes for a ceasefire have fallen through, and oil prices are rising. For Hyperliquid, the two addresses that hold the largest position in crude oil for “Abraxas Capital” have seen their combined unrealized losses widen to $9.7 million.

The addresses had previously been continuously rolling over at low levels to build a bearish position through last night and this morning. At present, the total size of both WTI and Brent oil positions is already $159 million, including: the 5x BRENTOIL short positions with a size of $102 million, with an average price of about $103; the 5x WTIOIL short positions with a size of $56.99 million, with an average price of about $98.6.

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