I have seen Tyson fight this way too, and yes his hands face INWARDS with tight elbows.

(My comment above about loose elbows was related to facing the palms outward, the opposite.)

Tyson, as I recall (haven't seen one of the replays in a couple of months) used a slightly dropped (lowered) defense than a peek-a-boo, his hands were at or below chin level, with the striking surfaces of his gloves almost touching (like he planned to twiddle his thumbs.)

He could see better than a true peek-a-boo, and he could rapidly move his hands just a few inches to block any head punch.

The hands were in really good position for infighting, hooks and uppercuts, or short straight shots from inside, which being generally shorter than all the other top heavyweights he tried to do: get inside and beat them up (literally upwards from below his opponent's chin height.)

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HerbM