Risk-off hangover is fading: after the metals meltdown, gold +5.8% and silver +10% on Feb 3 as the squeeze unwinds. Reuters also flagged margin pressure + CME Group hikes as part of the backdrop. Crypto bounced too: BTC ~$78.7k, ETH ~$2.31k. ETF tape flipped green on Feb 2: +$561.8M net (Farside Investors). Setup: still headline/liquidity-driven-watch metals + ETF flows + liquidation spikes. #BTC #ETH #Macro #ETF