Gold surged 2.3% intraday, retesting $4,650 for the third time; well-known on-chain short seller "Abraxas Capital" sees $22 million short position turn into a loss.
ChainCatcher reports that spot gold, after dropping to $4,500 on May 4, has rebounded significantly, rising another 2.3% this morning. GOLD prices on Hyperliquid are currently quoted at $4,651, marking the third time in the past seven days that this price level has been retested.
During this round of gains, the well-known short-selling institution Abraxas Capital on Hyperliquid went from profit to loss. Its 5x leveraged GOLD short positions average at $4,650, with a scale of $22 million, making it the largest on-chain gold short position holder. Address: 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36.
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