This is to correct a piece of information that was sent out this morning. Due to a hurried departure this morning, I was unable to carefully verify the information, leading to inaccuracies regarding silver. Here is the accurate situation:

CME actually started adjustments on January 13, changing the original fixed dollar margin model to a percentage-based calculation method. The initial ratio was set at 9%, which was later raised to 11% or above 12%.

Especially during the week of January 27, CME raised the percentage twice in a row. Statistics show that within a short 9-day window, a total of five margin hikes were executed.

This series of measures led to severe chain reactions: as prices fluctuated, investors holding leveraged positions faced enormous additional margin pressure or were forced to liquidate. For example, when the silver price reached $120, the margin requirement for a single contract skyrocketed to $54,000+, and this financial pressure triggered a chain liquidation, ultimately causing a collapse in silver prices.

In summary, the real driving force behind last night's market was actually CME. Earlier, I hastily published information based on a quick glance, which was indeed my oversight, and I apologize to everyone for that.