Gold and silver positions faced massive liquidations while traders scrambled to cover positions across the platform’s trading floors. Bitcoin wasn’t the only asset getting crushed during the session, which saw unprecedented activity in precious metals markets. Institutional participation in precious metals trading on Hyperliquid has grown substantially over the past six months. Without official guidance from Hyperliquid, market participants are basically flying blind about whether similar events might happen again. Thursday’s trading session cost some traders serious money, but it also revealed important information about how precious metals behave on modern trading platforms.