I just monitored the metals market - and wow! Copper, gold, and silver experienced a significant decline on Friday. The price of copper fell nearly 4% from a peak above $14,500 per ton, closing around $13,000. Gold surged by 4%, silver by 5.9%. All of this happened amid technical issues on the London Metal Exchange and a sudden shift in Chinese traders' positions.

It's interesting to see how this affected the crypto markets. It turns out, tokenized metal products faced massive liquidations - about $120 million in 24 hours. Silver contracts led with losses of $32 million, followed by gold and copper futures. Tokenized gold and silver dropped more than 7%. The copper prices in crypto versions also declined along with the physical market.

It appears traders are increasingly using crypto platforms as alternative channels for macro trading. When metals sharply rose earlier in the week, traders rushed into crypto contracts with speed and leverage. When prices started falling, the same platforms became tools for risk reduction.

This is driven by the strengthening US dollar - speculation about a possible change in Fed leadership. A strong dollar always puts pressure on commodities, whose prices are set in dollars. So metals also took a hit.

An unexpected development - XRP also experienced a sharp drop from $1.36 to $1.33 on high volume. This looks like aggressive selling rather than just low liquidity. Now, resistance is at $1.35, with levels above $1.40-$1.41 also holding.

Despite Friday's plunge, metals remain one of the strongest themes of the year. Copper still aims for a significant weekly gain due to supply constraints and electrification demand. Gold continues to attract investments as a hedge against uncertainty. Crypto markets are increasingly becoming part of this macro game - not just separate trading, but a parallel platform where global bets are executed in real time.