Ethereum has climbed 25% in August to $4,950, but historical data suggests potential September weakness.
Ethereum News
Ethereum has climbed 25% in August to $4,950, but historical data suggests potential September weakness. Since 2016, every August gain has been followed by September losses averaging 6.42%.
The pattern includes 2017's 92.86% August surge followed by a 21.65% September drop, and 2021's 35.62% rise preceding a 12.55% decline. Only three August rallies have occurred since 2016, all resulting in subsequent monthly corrections.
This September could break the trend with spot Ethereum ETFs recording $2.79 billion net inflows during August. Corporate treasuries now hold over $13 billion in Ethereum, with BitMine adding $45 million recently.
Bitcoin dominance fell 5.88% over 30 days to 58.19%, indicating capital rotation into altcoins. Federal Reserve Chair Powell's dovish Jackson Hole comments sparked Friday's rally past $4,867, with potential rate cuts boosting cryptocurrency sentiment.
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