According to Hyperinsight monitoring data, silver prices have surged this month, briefly exceeding $94 early this morning. This rally has intensified losses for a whale address (0x8af) that has been shorting silver since January 28, with floating losses now reaching $1.28 million, representing an 85% drawdown.
Position Analysis
Currently, the whale holds approximately $10.47 million worth of short positions in silver-related contracts, with an average price of $83.1 and a liquidation level at $105, making it the largest on-chain silver short.
- Surging prices amplify bearish pressure
- Mounting losses trigger gradual exit
- About $4.4 million unwound over past five days
Notably, the address initially enjoyed substantial floating gains after opening positions last month. However, as the market shifted upwards and holdings turned unprofitable, the trader began systematically closing positions to limit further exposure.