According to CoinMeta, Wintermute indicates that the main cryptocurrencies in the market have retraced less than 4%, and the marginal selling pressure is nearly exhausted. The institution has once again sold Bitcoin to pay preferred stock dividends. A Coldcard firmware vulnerability led to the theft of large amounts of Bitcoin held by users, and altcoins continue to be liquidated. It is not advisable to take heavy positions in hopes of a strong rebound at present. Attention should be paid to this week's ISM service industry and non-farm data, as well as the signals sent by former Federal Reserve Chairman Jerome Powell at the Jackson Hole Conference. The proportion of institutional OTC spot holdings has risen to 72%.