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On May 28, the silver market is facing a dual challenge of weakening demand and price pressure, with multiple institutions pointing out that the 'aftereffects' of the price surge in 2025 are becoming evident. Silver prices, which briefly surpassed $120 per ounce on January 28, plummeted nearly 30% in a single day, and although there was a rebound afterward, the overall trend has been downward. After rising to about $87 on May 14, silver faced another round of selling, fluctuating mainly between $75 and $78 over the past two weeks, and dropped over 3.5% during Thursday's trading to around $71.98. UBS noted in a recent report that the approximately 140% increase in 2025 has significantly suppressed downstream industrial demand and warned that as long as prices remain at current levels, the shrinkage in demand may continue. The bank also stated that unlike gold, which benefits from central bank purchases, silver lacks a strategic demand anchor, making it an 'unattractive' investment in the current environment. HSBC similarly believes that silver's 'fundamentals are overestimated,' with limited upside potential, and predicts that the gold-silver ratio may widen, leading to relative weakness in silver. Macquarie provided a more negative macro perspective, anticipating that the Federal Reserve may raise interest rates again in the first half of 2027, which would exert pressure on precious metals, and warned of significant downside risks for silver prices if the macroeconomic situation deteriorates further.

[Silver Faces Collective Bearish Outlook from Institutions: UBS Warns of Demand Shrinkage, HSBC Claims 'Fundamentals Overestimated']On May 28, the silver market is facing a dual challenge of weakening demand and price pressure, with multiple institutions pointing out that the 'aftereffects' of the price surge in 2025 are becoming evident. Silver prices, which briefly surpassed $120 per ounce on January 28, plummeted nearly 30% in a single day, and although there was a rebound afterward, the overall trend has been downward. After rising to about $87 on May 14, silver faced another round of selling, fluctuating mainly between $75 and $78 over the past two weeks, and dropped over 3.5% during Thursday's trading to around $71.98. UBS noted in a recent report that the approximately 140% increase in 2025 has significantly suppressed downstream industrial demand and warned that as long as prices remain at current levels, the shrinkage in demand may continue. The bank also stated that unlike gold, which benefits from central bank purchases, silver lacks a strategic demand anchor, making it an 'unattractive' investment in the current environment. HSBC similarly believes that silver's 'fundamentals are overestimated,' with limited upside potential, and predicts that the gold-silver ratio may widen, leading to relative weakness in silver. Macquarie provided a more negative macro perspective, anticipating that the Federal Reserve may raise interest rates again in the first half of 2027, which would exert pressure on precious metals, and warned of significant downside risks for silver prices if the macroeconomic situation deteriorates further.

Silver Faces Collective Bearish Outlook from Institutions: UBS Warns of Demand Shrinkage, HSBC Claims 'Fundamentals Overestimated'

Bitcoin Fear and Greed Index is 22. Extreme Fear.
Current Price: $73003.08.

[Bitcoin Fear and Greed Index is 22]Bitcoin Fear and Greed Index is 22. Extreme Fear.
Current Price: $73003.08.

Bitcoin Fear and Greed Index is 22

On May 28, Jack Yi, founder of Liquid Capital, posted on platform X stating that he got eight operations right and one wrong in the last cycle, but that one mistake often came with a huge cost. However, there is no need for excessive worry, as it was merely a pullback of the previous round's profits. After this rebound ends, he is fully preparing to bottom-fish for the next round of operations, dedicating more than half of his time and energy to researching AI stocks and investments (currently seeking to learn from experts). Optimists always choose to believe in trends, as only by believing can one avoid panic during crypto lows and AI highs.

[Jack Yi: Fully Prepare for Bottom-Fishing in the Next Round After This Rebound Ends]On May 28, Jack Yi, founder of Liquid Capital, posted on platform X stating that he got eight operations right and one wrong in the last cycle, but that one mistake often came with a huge cost. However, there is no need for excessive worry, as it was merely a pullback of the previous round's profits. After this rebound ends, he is fully preparing to bottom-fish for the next round of operations, dedicating more than half of his time and energy to researching AI stocks and investments (currently seeking to learn from experts). Optimists always choose to believe in trends, as only by believing can one avoid panic during crypto lows and AI highs.

Jack Yi: Fully Prepare for Bottom-Fishing in the Next Round After This Rebound Ends

Analysts at Dutch Bank stated in a report that the market continues to be caught in a roulette of news, influenced by the fluctuating possibility of the U.S. and Iran reaching a short-term agreement to reopen the Strait of Hormuz. 'We have been trying to see through the daily noise of news,' they said. They noted that Dutch Bank analysts did not comment on when an agreement might be reached, but instead focused their baseline scenario on the outcome—specifically, when energy supplies might fully normalize, leading to a sustained decline in prices.

[Dutch International: Middle East News Remains a Market Driver]Analysts at Dutch Bank stated in a report that the market continues to be caught in a roulette of news, influenced by the fluctuating possibility of the U.S. and Iran reaching a short-term agreement to reopen the Strait of Hormuz. 'We have been trying to see through the daily noise of news,' they said. They noted that Dutch Bank analysts did not comment on when an agreement might be reached, but instead focused their baseline scenario on the outcome—specifically, when energy supplies might fully normalize, leading to a sustained decline in prices.

Dutch International: Middle East News Remains a Market Driver

On May 28, according to monitoring by Lookonchain, the whale 'pension-usdt.eth' turned a profit after holding an ETH short position for nearly two months, closing the ETH short position today with a profit of $1.13 million. Additionally, the whale still holds a long position of 1,000 BTC (valued at $73 million), currently facing an unrealized loss of $4.98 million.

[Whale 'pension-usdt.eth' Takes Profit on ETH Short Position, Gains Approximately $1.13 Million]On May 28, according to monitoring by Lookonchain, the whale 'pension-usdt.eth' turned a profit after holding an ETH short position for nearly two months, closing the ETH short position today with a profit of $1.13 million. Additionally, the whale still holds a long position of 1,000 BTC (valued at $73 million), currently facing an unrealized loss of $4.98 million.

Whale 'pension-usdt.eth' Takes Profit on ETH Short Position, Gains Approximately $1.13 Million

On May 28, Michael Kramer, founder of Mott Capital Management, issued a warning that the recent sell-off in Bitcoin may deepen due to upcoming actions by the U.S. Treasury, which is expected to withdraw approximately $150 billion in liquidity from the financial system. In his market analysis report, Kramer noted that Bitcoin often serves as a better liquidity indicator than most other assets. If Treasury settlements are a consumption item for liquidity, Bitcoin could see a significant decline. The U.S. Treasury regularly issues bonds for financing, and when new securities are sold, cash flows from investors into the Treasury's account at the Federal Reserve, which withdraws liquidity from the banking system, thereby reducing the cash available for other investments. The Treasury's operations from May 28 to June 5 will result in approximately $150 billion in liquidity loss, including $15 billion in short-term Treasury bills maturing on Thursday, $47 billion in coupon settlements on Friday, $68 billion on the following Monday, and $16 billion in short-term Treasury bill settlements on the following Tuesday, along with an additional $5 to $15 billion in short-term Treasury bill settlements on June 4. When liquidity is withdrawn, even temporarily, investors typically become more cautious and reduce their interest in risk assets like Bitcoin. Early signs of this pressure have already emerged, with Bitcoin dropping about 11% from its peak above $82,500 earlier this month, recently falling below the critical support level of $75,000. Kramer pointed out that this is a clear signal that liquidity conditions are tightening.

[Warning: U.S. Treasury to Withdraw $150 Billion in Liquidity Next Week, Bitcoin May Decline Further]On May 28, Michael Kramer, founder of Mott Capital Management, issued a warning that the recent sell-off in Bitcoin may deepen due to upcoming actions by the U.S. Treasury, which is expected to withdraw approximately $150 billion in liquidity from the financial system. In his market analysis report, Kramer noted that Bitcoin often serves as a better liquidity indicator than most other assets. If Treasury settlements are a consumption item for liquidity, Bitcoin could see a significant decline. The U.S. Treasury regularly issues bonds for financing, and when new securities are sold, cash flows from investors into the Treasury's account at the Federal Reserve, which withdraws liquidity from the banking system, thereby reducing the cash available for other investments. The Treasury's operations from May 28 to June 5 will result in approximately $150 billion in liquidity loss, including $15 billion in short-term Treasury bills maturing on Thursday, $47 billion in coupon settlements on Friday, $68 billion on the following Monday, and $16 billion in short-term Treasury bill settlements on the following Tuesday, along with an additional $5 to $15 billion in short-term Treasury bill settlements on June 4. When liquidity is withdrawn, even temporarily, investors typically become more cautious and reduce their interest in risk assets like Bitcoin. Early signs of this pressure have already emerged, with Bitcoin dropping about 11% from its peak above $82,500 earlier this month, recently falling below the critical support level of $75,000. Kramer pointed out that this is a clear signal that liquidity conditions are tightening.

Warning: U.S. Treasury to Withdraw $150 Billion in Liquidity Next Week, Bitcoin May Decline Further

Astarter has officially released the "three-layer fusion architecture" - coordinating the three independent trends of AI Agent (actor), DePIN (computing power bottom layer), and DeFAI (financial layer) in a unified stack. The project itself summarizes the architecture as follows: "Astarter is building the infrastructure for an autonomous AI agent economy - integrating Al Agent, DePIN, and DeFAI. Industry analysis suggests that this three-layer architecture is one of the few project solutions in the AI Agent economy that has publicly committed to covering all three layers. Most similar projects only cover one layer, while the strategic alliance between Astarter and UXLINK is the first public attempt to fully cover three layers under the same cooperation framework.

[Astarter reveals three-layer fusion architecture to coordinate the three major trends of Al Agent, DePIN, and DeFAI]Astarter has officially released the "three-layer fusion architecture" - coordinating the three independent trends of AI Agent (actor), DePIN (computing power bottom layer), and DeFAI (financial layer) in a unified stack. The project itself summarizes the architecture as follows: "Astarter is building the infrastructure for an autonomous AI agent economy - integrating Al Agent, DePIN, and DeFAI. Industry analysis suggests that this three-layer architecture is one of the few project solutions in the AI Agent economy that has publicly committed to covering all three layers. Most similar projects only cover one layer, while the strategic alliance between Astarter and UXLINK is the first public attempt to fully cover three layers under the same cooperation framework.

Astarter reveals three-layer fusion architecture to coordinate the three major trends of Al Agent, DePIN, and DeFAI

According to monitoring by Dongcha Beating, the closed-end fund Powerlaw Corp. (stock code: PWRL), which packages shares of SpaceX and OpenAI, debuted on Nasdaq on May 27 local time. It triggered multiple rounds of intraday circuit breakers at the opening, ultimately closing up 131.44% at $27.68. On its first trading day, the fund opened at $35.00, nearly doubling from the exchange reference price of $11.96, and peaked at $40.00 during the day. After-hours trading continued to rise to $28.99. The surge in stock price led to extremely high capital premiums on the fund's trading price. Based on a reported net asset value (NAV) of $604.1 million as of May 13, Powerlaw's actual NAV per share is only $13.97. This means that the closing price of $27.68 represents a premium of 98.14% over the actual asset value, indicating that retail investors are acquiring equity in unlisted tech companies at nearly double the price in the public market. When the price peaked at $40.00, the asset premium rate was pushed up to 186.33%. On the first trading day, the trading volume reached 1,101,300 shares, with a total transaction amount of $37.149 million, and the fund's total market capitalization soared to $1.197 billion at closing. The extreme price divergence reflects the market's FOMO (fear of missing out) sentiment towards the fund's holdings in top unicorns like SpaceX (valued at approximately $117 million), OpenAI (valued at approximately $46.9 million), as well as Anthropic and xAI. However, since nearly 80% of the fund's assets are held indirectly through special purpose vehicles (SPVs) and are facing compliance scrutiny related to violations of SPVs from companies like Anthropic, the multilayered hidden costs and potential risks of forced liquidation may exert pressure on the high premium stock price in subsequent trading.

[PWRL Soars 131% on First Trading Day, Triggering Multiple Circuit Breakers]According to monitoring by Dongcha Beating, the closed-end fund Powerlaw Corp. (stock code: PWRL), which packages shares of SpaceX and OpenAI, debuted on Nasdaq on May 27 local time. It triggered multiple rounds of intraday circuit breakers at the opening, ultimately closing up 131.44% at $27.68. On its first trading day, the fund opened at $35.00, nearly doubling from the exchange reference price of $11.96, and peaked at $40.00 during the day. After-hours trading continued to rise to $28.99. The surge in stock price led to extremely high capital premiums on the fund's trading price. Based on a reported net asset value (NAV) of $604.1 million as of May 13, Powerlaw's actual NAV per share is only $13.97. This means that the closing price of $27.68 represents a premium of 98.14% over the actual asset value, indicating that retail investors are acquiring equity in unlisted tech companies at nearly double the price in the public market. When the price peaked at $40.00, the asset premium rate was pushed up to 186.33%. On the first trading day, the trading volume reached 1,101,300 shares, with a total transaction amount of $37.149 million, and the fund's total market capitalization soared to $1.197 billion at closing. The extreme price divergence reflects the market's FOMO (fear of missing out) sentiment towards the fund's holdings in top unicorns like SpaceX (valued at approximately $117 million), OpenAI (valued at approximately $46.9 million), as well as Anthropic and xAI. However, since nearly 80% of the fund's assets are held indirectly through special purpose vehicles (SPVs) and are facing compliance scrutiny related to violations of SPVs from companies like Anthropic, the multilayered hidden costs and potential risks of forced liquidation may exert pressure on the high premium stock price in subsequent trading.

PWRL Soars 131% on First Trading Day, Triggering Multiple Circuit Breakers

On May 28, news emerged that Grant Cardone, CEO of the US real estate investment firm Cardone Capital, announced on social media that the company increased its holdings by acquiring 130 bitcoins during the market correction.

[US Real Estate Investment Firm Cardone Capital Acquires 130 BTC]On May 28, news emerged that Grant Cardone, CEO of the US real estate investment firm Cardone Capital, announced on social media that the company increased its holdings by acquiring 130 bitcoins during the market correction.

US Real Estate Investment Firm Cardone Capital Acquires 130 BTC

On May 28, U.S. President Trump stated that the United States will continue to control Iranian assets. Iran has started to provide us with what we want, and if things do not go well, U.S. Secretary of Defense Esper will complete the task. We could quickly end the war with Iran, and we may have to do so. However, I believe we do not need to.

[Trump: The U.S. Will Continue to Control Iranian Assets]On May 28, U.S. President Trump stated that the United States will continue to control Iranian assets. Iran has started to provide us with what we want, and if things do not go well, U.S. Secretary of Defense Esper will complete the task. We could quickly end the war with Iran, and we may have to do so. However, I believe we do not need to.

Trump: The U.S. Will Continue to Control Iranian Assets

Musk Posted a Recruitment Ad for SpaceX, and After Reading the Comments Section, I Understood

XRP Has Overtaken Solana And Ethereum In This Major Metric

Cloudflare CEO: How I Decided Which Employees to Replace with AI?

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Bitcoin Fear and Greed Index is 25

Trump: The U.S. Will Continue to Control Iranian Assets

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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