David Duong, head of research at Coinbase Institutional, tweeted that the market outlook for September will be clearer, and that the current weakness in Bitcoin is merely an excuse for risk aversion before the TGA funds are rolled back.

Honestly, this sounds like he's trying to reassure everyone not to panic. The Jackson Hole meeting and PPI data have indeed disrupted interest rate cut expectations, but Duong's viewpoint makes me feel that a rebound in September is quite possible. It is noteworthy that the Indonesian central bank also expects the Federal Reserve to cut rates twice in the second half of the year, indicating a shift towards easing.

The adjustment period for Bitcoin might be a buying opportunity, and strategists are calling for profit-taking to drive the pullback; I suggest keeping a close eye on next week's meeting, as ETH might take off first, and in the short term, don't go all in.