10x Research: The potential market structure and fundamentals have gradually weakened, September may usher in a key turning point

10x Research posted on social media stating that although it remains optimistic about the medium and long-term prospects of digital assets, caution is needed in the short term. Despite experiencing a V-shaped recovery after market declines in early May, July, and August, the potential market structure and fundamentals have gradually weakened. As a result, each decline has become deeper with subsequent recoveries more moderate. The latest end-of-month data suggests we may be approaching a critical turning point in September characterized by declining demand.