Silver experienced an "epic" decline today, with Peter Brandt emphasizing that hedge demand from silver miners could lead to supply and demand imbalance.

BlockBeats News, January 30 — The renowned trader and chart analyst Peter Brandt, who successfully predicted the 2018 Bitcoin crash, yesterday hinted at risks in silver. Today, silver saw a historic decline, dropping 14.16% in a single day, just below the largest historical drop (which occurred after the Hunt brothers’ manipulation crash, ‘Silver Thursday’ on March 27, 1980, when prices plummeted over 50%-63%). This morning, Peter Brandt once again warned of the speculative risks of silver price surges, noting that this week’s Comex trading volume reached 4.3 billion ounces, equivalent to 5.2 years of global silver production, possibly reflecting hedging by miners rather than pure demand. Brandt emphasized that mining companies lock in high prices for profits, leading to potential oversupply.