According to CoinMeta, Wu said that the latest market weekly report from Wintermute stated that last week, US macro data caused market expectations for a rate hike in September to drop from nearly 50% to about one-third. However, BTC did not benefit, with a weekly decline of 3.12%. From August 10th to 14th, there was a net outflow of approximately $390 million in US spot BTC ETF, which was the largest single-week outflow since June. The buying momentum that had been restored the previous week quickly reversed. Meanwhile, Riot sold 4,300 BTC in the second quarter. Wintermute believes that, given the pressure on mining costs and miners' efforts to raise funds for AI data center operations, miners may continue to put pressure on the market. Wintermute indicated that they will not shift to a clearly bullish stance until ETF funds stabilize again or continue to flow in.