Physical Silver Plunges 15%! Crypto Influencer Bets Millions Against the Trend

Silver Prices Plummet, Sparking Market Turbulence

On February 6, physical silver prices dropped 15% to a low of $66, driven by multiple market factors. This sharp decline drew significant investor attention.

Influential Crypto Trader Bets Big on Silver

Renowned crypto trader CBB swiftly adjusted his strategy, closing his short positions and opening a leveraged long position on silver. So far, around $1 million of the long position has been partially closed. The average holding price is about $70.9, with a total investment of $15.65 million, generating a floating profit of approximately $290,000.

Expertise Behind the Moves

CBB (X handle: Cbb0fe) is a seasoned crypto and commodities trader with a following of around 100,000 on X. He previously gained public attention for orchestrating a high-profile 'whale hunt' against BTC short sellers and is currently active in trading commodities on Hyperliquid.