Abraxas Capital purchased 73,872 ETH worth $173.17 million from Binance over the past four days, building a hedge against its $783 million short position on Hyperliquid. Ethereum was trading around $2,452 at press time, up 2.69% daily, extending its 29% weekly gains. Binance netflow has remained positive for five consecutive days, indicating that traders are selling more than buying, creating sustained market pressure. Technical indicators including MACD and ADX confirm bullish momentum with $2,800 as the next target, though failure to hold $2,400 could push ETH down to $2,200.
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