10x Research: Market structure and fundamentals have gradually weakened, and September will usher in a key turning point

BlockBeats news, on September 2, 10x Research posted on social media that although it remains optimistic about the medium- and long-term prospects of digital assets, it seems that caution is needed in the short term. Although the market experienced a V-reversal after the declines in early May, early July, and early August, the underlying market structure and fundamentals have gradually weakened. As a result, each decline has become deeper and the subsequent recovery has been more moderate. The latest end-of-month data suggests that we may be approaching a key turning point in September, characterized by a decline in demand.