$20B in BTC short liquidations sit between $110,000 and $130,000.Negative funding rates.Interest combination. 🤔 https://t.co/daQs6RUXAw ...

N.B.Abraxas Capital also holds in their entity over $2.49B of BTC and $486M of ETH making these positions delta-positive [i.e. net long, not short].They may be farming funding rates on Hyperliquid. It is also possible that they have additional positions on Binance or CEXs which cannot be seen on-chain. ...