Spot gold continues its downward trend, "Abraxas Capital" holds million-dollar short positions with floating profits of 1.9 million USD

MarsBitNews · 2026-03-20T07:54:45+00:00

On March 20, spot gold continued to decline, touching $4,520, currently trading at $4,680. Abraxas Capital realized $1.93 million in floating gains and closed out $1.4 million in short positions, still holding $17.8 million in short positions, precisely capitalizing on the downtrend in gold.

MarsBitNews

2026-03-20 07:54:45

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Mars Finance News, March 20 — According to Hyperinsight monitoring, spot gold prices continued to decline. On Hyperliquid, the GOLD (gold) contract briefly touched a low of $4,520 this morning, currently trading at $4,680. The second-largest on-chain gold holder, the short position “Abraxas Capital” (0xb83), has an unrealized profit of approximately $1.93 million (22.2%).

This morning, as gold briefly rebounded above $4,700, this address took the opportunity to partially take profits, closing short positions of about $1.4 million. It still holds a 5x leveraged GOLD short position with a scale of $17.8 million, with an average entry price of $5,187.

It is reported that this short position was significantly increased yesterday when gold prices were around $4,850, precisely catching the high point of this round of decline and absorbing the downward space.

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