Silver price sees sharp reversal in a day…$900 billion in market cap wiped out after near-record intraday retracement
Suehyeon Lee
Summary
- Silver prices jumped more than 14% before turning lower within a day, making silver prices and a turn lower key investor talking points.
- In just 90 minutes, about $900 billion in the silver market’s market capitalization was wiped out.
- Volatility is seen to have widened to an extreme as accumulated profit-taking and liquidation of overheated positions hit the market at once.
Silver prices posted a historic intraday reversal.
According to The Kobeissi Letter on the 26th (local time), silver prices surged more than 14% before turning lower within a day, and in just 90 minutes roughly $900 billion in the silver market’s capitalization was wiped out.
Early in the session, after hitting a fresh all-time high, silver gave up all of its gains as intense selling pressure emerged. The move is seen as volatility spiking to an extreme as pent-up profit-taking and overheated positioning were liquidated all at once.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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