Abraxas Capital has reported a floating profit exceeding $87.6 million from its short positions on Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and HYPE. The positions are held across two wallets on the HyperLiquid platform. This profit comes amid a broader market downturn, highlighting the firm's strategic positioning in the current volatile environment. The wallet addresses associated with these positions are 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36 and 0x5b5d51203a0f9079f8aeb098a6523a13f298c060, as reported by Nansen AI.