The rise of Ethereum in August may lead to a downward trend in September, history shows. Ethereum $ETH rose nearly 25% in August, climbing from $3,807 at the beginning of the month to a high of over $4,867, thanks to the dovish comments from Federal Reserve Chairman Jerome Powell and billions of dollars flowing into spot ETH ETFs. However, despite the optimistic momentum, historical data sends a warning. According to CoinGlass, since 2016, whenever ETH has a strong performance in August, a pullback occurs in the following September. 👉 For example: In 2017, 2020, and 2021, although Ethereum rose in August, it faced losses the following month. Traders point out that in years following a halving, ETH's September seasonality tends to be negative. As of writing, ETH is trading at $4,759, up nearly $952 since the beginning of the month. 🔑 What's different this time? Spot ETH ETFs have attracted billions in capital inflows. Financial allocations are increasingly including Ethereum (ETH), driving institutional demand. Expectations of interest rate cuts by the Federal Reserve may provide macro support. However, analysts warn that history should not be ignored. Crypto trader CryptoGoos points out: 📊 Key Points Despite Ethereum's fundamentals appearing stronger than ever, traders may need to exercise caution as they enter September. History shows that ETH often cools off after a rise in August—although this year's unique institutional capital flows may challenge that trend. 🔎 Do you think history will repeat itself, and ETH will decline in September, or will ETF demand push it to new highs?