According to Markus Thielen, founder of 10x Research, the growth rate of outstanding credit in the US for June slowed down to $8.9 billion, falling short of the market's expectation of a $10 billion increase. This phenomenon is mainly due to a rare decrease in credit card debt and an increase in delinquency rates, signaling a tough challenge for personal savings rates. Thielen points out that this indicates the American consumers' spending capacity has nearly reached its limit, leading to continued restrictions on pathways for transferring funds from the traditional financial system to the crypto market. While recent reversals in yen carry trade temporarily stabilized the prices of risk assets like Bitcoin, other potential risks remain, such as the ongoing impact of slowing US consumer debt growth.