Two big funds on @HyperliquidX are running the similar books with same thesis Abraxas Capital: $303.94M realized. Long BTC from $77.24K. Short ETH, short HYPE, short FARTCOIN (up 333%) Galaxy Digital: Long BTC from $81.38K. Short ETH from $3.06K - that position alone is up $1.2M. Short TON, short SOL. The common thesis: long BTC, short altcoin exposure.(Nansen 🧭)