Silver Prices Recover as Major Short Position Closes

Silver prices in the U.S. stock market rebounded from $77 to over $81, according to ChainCatcher. Hyperinsight monitoring revealed that a significant short position on Hyperliquid, known as 'Silver Iron Head Bear' (0x61ce), saw a substantial reduction in floating profits. The position, which utilized 20x leverage on silver, was fully closed in the early morning at an average price of $79.2. Initially valued at approximately $7.8 million, the position ultimately recorded a floating profit of around $140,000. Previously, this large trader was one of the biggest on-chain silver short sellers with a position worth $35 million. The trader currently holds significant long positions in BTC and short positions in ETH.