Welcome to this week's global tracking👀 Precious metals deleveraging triggered sell-off, spilling into crypto. 🧐Silver’s deliverable inventory versus open interest became dangerously tight, turning delivery risk into a binding constraint as the delivery window approached. 🧐Higher margins and dynamic risk parameters raised carrying costs, prompting synchronous profit-taking/rolling pressure and a self-reinforcing liquidation loop. 🧐Metals look more like a positioning reset than a thesis breakdown, whereas crypto—structurally more levered and quicker to liquidate—likely needs a renewed upswing in liquidity and risk appetite for a sharp rebound. Read more👉https://blofin.com/en/academy/flow-insights/whale-s-tracking-risk-off(BloFin Research)