Welcome to this week's global tracking👀 The September settlement may only be the end of the "calm" period. 🤠Derivative settlement is one of the factors dominating the recent trend of cryptos, but it has not yet had a significant impact on gold and stock indices. 🧐The narrative of precious metals trading has gradually shifted offshore. As a result, investors are prioritising the onshore-offshore allocation ratio rather than the asset allocation ratio when allocating liquidity. 🤔Given the increasing risks of the Fed's monetary policy and the White House's deeper involvement in market operations in the coming months, the September settlement may be more likely the beginning of a period of turbulence. Read more: https://blofin.com/en/academy/flow-insights/whale-s-tracking-the-night-before-settlement(BloFin Academy)