The swings in silver over the last day have been nothing short of extreme.
Within roughly 14 hours, silver saw close to $2 trillion in market cap swing back and forth. Early in the US session it added around $500B, only to give back almost $1T a few hours later, and then rally another $500B again into the evening. That's so insane lol.
To put that into perspective: silver was effectively tossing around Bitcoin’s entire market cap multiple times in a single day.
This kind of volatility isn’t normal for a market that’s usually viewed as slow, defensive, and macro-driven. It raises some uncomfortable questions about positioning, leverage, and how fragile liquidity really is right now.
Curious how others are viewing this. Is this purely speculative flow, forced positioning unwinds, or a sign that stress is building under the surface of broader markets?