Altcoins News
By Steven Anderson
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Rate Hike Sends Shockwaves. The Fed's 75 basis point increase caught pretty much everyone off guard.
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Mining Stocks Get Crushed. SilverCorp Metals took a 5% hit on Tuesday as investors dumped mining stocks.
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Futures Market in Chaos. COMEX silver futures for May delivery crashed 4.5% to $64.50 per ounce on March 19.
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Silver got hammered this week. The precious metal plunged from $93 to $65 per ounce after the Federal Reserve dropped a surprise 75 basis point rate hike on Monday that nobody…
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The move sent shockwaves through commodity markets as traders scrambled to dump positions. Silver's 30% nosedive in just days shows how fast things can turn when the Fed gets…
6 / 15
The Fed's 75 basis point increase caught pretty much everyone off guard. Chair Powell and his team said they're serious about fighting inflation, but the timing was brutal for…
7 / 15
Jane Simmons at GoldTrust didn't mince words: "The market didn't see this coming at all. It's a clear signal the Fed's going full hawk mode.
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Thomas Lee, another analyst tracking the mess, put it bluntly: "Industrial buyers can't prop up prices when the financial side goes haywire like this."
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The $65 level is now make-or-break territory. If silver punches through that floor, things could get ugly fast. Traders are watching every tick, ready to bail if support crumbles.
10 / 15
SilverCorp Metals took a 5% hit on Tuesday as investors dumped mining stocks. The company's shares reflect what happens when the underlying commodity crashes - mining becomes way…
11 / 15
Trading volumes tell the story too. The London Bullion Market Association reported a massive drop in silver trading as participants stepped back from the chaos.
12 / 15
But some traders see opportunity in the wreckage.
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James Carter runs SilverWave Capital and he's eyeing the dip: "For long-term players, this could be a gift. Markets always overreact.
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The Shanghai Futures Exchange saw trading activity drop 15% as Chinese investors pulled back.
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COMEX silver futures for May delivery crashed 4.5% to $64.50 per ounce on March 19. The futures curve shows traders expect more pain ahead, at least in the near term.
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