[CoinShares: Slowdown in Fund Inflows Stemming from Uncertainty, Bond Market May Be More Crucial Than the Fed] James Butterfill, Head of Research at CoinShares, stated that since mid-July, digital asset funds have seen a cumulative inflow of $11.1 billion. However, recent inflows have slowed, reflecting uncertainty rather than weakening fundamentals. The yield on the U.S. 10-year Treasury has surpassed 5.3%, and the 30-year yield has reached 5.7%, both marking over two-decade highs. The probability of a Federal Reserve rate hike in October has dropped from 71% to 23%. He believes the bond market may be more significant than the Federal Reserve, and Bitcoin's breakout needs to be driven by fiscal logic rather than interest rate dynamics.