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Suspected "1011 insider whale" Garrett Jin: The pullback in precious metals triggered profit-taking, and funds shifted to relatively undervalued assets like BTC and ETH
Odaily Planet Daily reported that the suspected “1011 Insider Whale” Garrett Jin posted on the X platform that the prices of precious metals such as platinum, palladium, and silver have experienced significant declines, while Bitcoin and Ethereum prices have begun to rebound. Currently, the market positions in these precious metals are overly crowded, and the short-term overbought conditions have increased risks and triggered profit-taking. As a result, market funds are shifting from overheated trading to relatively undervalued assets. Garrett Jin previously stated that the rise in silver, palladium, and platinum was merely a short-term squeeze and unsustainable. Once prices start to reverse, it is likely to drag down gold prices as well, with market funds moving from precious metals to Bitcoin and Ethereum.