Shorts on ETH, SOL, and BTC recorded profits, prompting a series of reactions from the crypto market. The update comes at a time when all tokens have significantly lost their respective values over the last 24 hours. Meanwhile, a possibility is emerging amid corrections in Gold and Silver prices.
Profits on ETH, SOL, and BTC Shorts
According to a report by Lookonchain, two super shorts have recorded profits by shorting ETH, SOL, and BTC. 0x20c2, an ETH super short, made $102.7 million by shorting Ethereum tokens. 0x35d1, an SOL super short, made $55.5 million by shorting all three tokens, which are ETH, BTC, and SOL.
The crypto community has reacted to the development with some members saying that bears finally got their turns. A few more members called this phase a shorts season. A lot of community members have directly criticized the move, given it comes at a time when the crypto market is facing heavy turbulence.
ETH, SOL, and BTC in Turmoil
The current values of ETH, SOL, and BTC are down by 7.39%, 6.16%, and 7.44% over the last 24 hours, respectively. They are listed at $2,084.52, $90.14, and $70,376.99, as the article is being drafted, applicable in the same order.
A downfall of price extends to the entire crypto market, evident from a plunge of 6.93% in the collective market cap. It is now hovering around $2.39 trillion with the FGI of 11 points. Kalshi Traders have already allocated 80% chances for BTC to go as low as $60,000 in 2026. Their forecast is down from earlier speculation of $64,000.
Corrections in Gold and Silver Prices
Gold and Silver prices noted a correction after making consecutive gains over recent days. Gold is now at $4,852.13 and Silver is at $78.16, down by 2.29% and 11.40%, respectively. Precious metals still have the capability to fetch gains, given they are known to be safe havens for investors who look to avoid heavy volatility.
Simply put, a drop in their respective prices could be opening the door for investors to contemplate their allocation to precious metals instead of the crypto market, which is estimated to see more declines, led by Bitcoin tokens, in the times to come.
Needless to say, all types of investment should be done only after thorough research and risk assessment. The content of this article is neither recommendation nor advice.
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