Ether prices have risen to 25% since the beginning of August, but historical data suggests that cryptocurrency may lose steam in September.
Time will only say if Ether (Eth) Playing differently this year, with billions -billions flowing into ETF areas and Treasury companies.
Crypto trader cryptogoos Says In an X post on Friday, “ETH seasonal time in September during the post-halving year is usually negative. Will this time be different?”
Ether traded at $ 4,759 at the time of publication, up to $ 952 from the August 1 price opening $ 3,807, According to In coinmarketcap. Crypto asset crossed new highs of more than $ 4,867 on Friday following gentle comments from the US Federal Reserve Chairman Jerome Powell at Jackson Hole Symposium.
History suggests caution for Ether in September
Powell indicated a possible interest rate next month, which is much in the crypto market view as a potential bullish catalyst.
However, history suggests caution for Ether since there are only three opportunities since 2016 in which Ether posted the acquisitions in August, and each was followed by a fall of September, According to In coinglass.
In 2017, Ether rose 92.86% in August before dropping 21.65% next month.
The pattern was repeated in 2020, with 25.32% gain in August followed by a 17.08% pullback in September. In 2021, Ether rose 35.62% in August before the slipping of 12.55% in September.
Ether gained in the last three months of 2016 and 2020
Noteworthy, although September saw losses in 2016 and 2020, Ether posted each of the following three months of the same year.
However, this September can play differently from recent years, along with ETF and Ether Treasury companies are present, which are inactive at the previous August rallies.
On August 11, the total ether held by companies with crypto treasures exceeded the value of $ 13 billion, as the The price of cryptocurrency has sank Ago $ 4,300.
On Saturday, the blockchain intelligence firm Arkham reported Bitmine chairman Tom Lee bought another $ 45 million ether for the firm that carries a total of Bitmine up to $ 7 billion.
August has become a significant month for spots ether ETF
Meanwhile, the ETF spots saw nearly $ 2.79 billion net inflows in August only, while the spot bitcoin (Btc) ETFs have posted approximately $ 1.2 billion in net outflows at the same time, According to In the distance.
Related: ETH DATA AND RETURN OF INVIRDOR RISK IN APPETITE PAVE PATH IN $ 5K ETHER PRICE
Novadius Wealth Management President Nate Geraci Says In a post on Saturday there was a “well -known shift” in the flow between the ETF and Bitcoin ETF spot areas.
Meanwhile, Bitcoin dominancewhich measures the general sharing of the market, has dropped by 5.88% over the past 30 days to 58.19%, which is common market participants who are commonly characteristic of capital rotating in the broadly crypto market outside the BTC.
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