In a post on social media, 10x Research said that while it remains optimistic about the medium- to long-term outlook for digital assets, it appears that caution is needed in the short term at the moment. Although the market experienced a V-reverse 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 muted. The latest month-end data suggest that we may be approaching a key turning point in September, characterized by a decline in demand.