QCP: Bitcoin is holding at the lower end of the recent range, with macro focus shifting to the Federal Reserve's meeting minutes

According to QCP, the preliminary consumer confidence index for the University of Michigan in the U.S. dropped to 51 in August, and retail sales in July decreased by 0.6% month-on-month. Coupled with previous weak employment data, market expectations for the Federal Reserve's short-term tightening policy have decreased.

Federal funds futures indicate that the probability of a 25 basis point rate hike in September is about 30%.