Point of View: Ethereum Price Action Shows Weakness But Has Not Peaked Yet, Merely in a Seasonal Trend

On August 29th, trader CoinMamba made a post stating, "The market appears to be a bit weak. However, when I took another look at the ETH chart, in my view, we have not yet reached the peak. We are merely going through a normal seasonal trend." BlockBeats had previously reported that on August 26th, Matrixport said, "Most of the institutional funds during summer have exited. But Ethereum continues to attract inflows, while Bitcoin ETF may experience net outflows for the fifth consecutive month. The outflow this month is estimated to be around $1.2 billion, which is the second-highest in history, only next to February's $3.5 billion. Seasonal factors may be temporary, but they remind us that fund flows are as important as seasonality. After maintaining a bullish stance in July, we became cautious in August. Although macro and liquidity factors may still support Bitcoin, the current market still needs to remain vigilant."