Gold intra-day rally up 2.3%, three times testing $4,650, on-chain well-known short seller "Abraxas Capital" turns a $22 million short position into a loss

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BlockBeats News, May 6th, according to Hyperinsight monitoring, spot gold has rebounded sharply after falling back to $4,500 on May 4th, and this morning it rose another 2.3%. The price of GOLD on Hyperliquid is temporarily reported at $4,651, marking the third time in nearly 7 days that this level has been retested.

During this rally, the well-known short institution Abraxas Capital on Hyperliquid turned from profit to loss. Its 5x leveraged short position at an average price of $4,650 amounts to $22 million, making it the top on-chain gold short holder.

Address: 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36

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