Recently, the Ethereum market has performed brilliantly, with prices rising 25% since the beginning of August. However, historical data shows that this rising trend may be difficult to sustain in September.

The current trading price of Ethereum is approximately $4,759, which is about $952 higher than the opening price on August 1. Last Friday, influenced by Federal Reserve Chairman Powell's relatively dovish remarks, Ethereum briefly broke through a new high of $4,867.

Despite the market's optimistic outlook on potential interest rate cuts, historical data reminds investors to remain cautious. Since 2016, Ethereum has only managed to maintain its upward momentum in September after rising in August on three occasions. Over the past seven years, Ethereum's average decline in September has reached 6.42%.

It is worth noting that although there was a decline in September 2016 and 2020, there was a rise in the following three months. This year may be different; the rapid growth of Ethereum ETFs and institutional investment may bring about new market trends. Data shows that as of August 11, the value of Ethereum held by institutions has exceeded $13 billion.

In addition, the latest report from blockchain analysis company Arkham points out that the movements of certain large institutional investors are also worth paying attention to. These factors could all influence the performance of Ethereum in September.

Overall, in September this year, the Ethereum market will face a dual test of historical trends and emerging factors. Investors need to weigh these complex factors when making decisions and closely monitor market changes.