David Duong, head of institutional research at Coinbase, tweeted that the Jackson Hole meeting and Producer Price Index (PPI) data are just excuses for market participants to reduce risks before the US Treasury Department withdraws a large amount of funds (about $400 billion) from the Treasury General Account (TGA) in the coming weeks. This also explains why Bitcoin, along with many stocks, has lost its upward momentum. However, we believe that the outlook for September looks more promising.