August was the best month for the second-largest cryptocurrency so far this year, and bulls have now turned their attention to September, expecting further gains over the next four weeks.
Find out what suggests a new green wave could indeed be on the cards.
Positive factors
As of this writing, ETH is trading at around $2,380 (per CoinGecko), representing a 28% monthly rise. Its strong performance comes against the backdrop of a broader market resurgence seen during the second half of August. Recall that BTC briefly exceeded $81,000; We can explore the exact catalysts in our detailed article here.
For its part, ETH temporarily climbed above $2,550, while growing institutional demand suggests the local high could be surpassed this month. Data from SoSoValue shows that spot ETH ETFs have closed 12 consecutive green days, attracting over $1.5 billion in capital during this period. The last time funds saw such a sustained rise was in July 2025.
Next on the list is the amount of ETH stored on cryptocurrency exchanges. Just a few days ago, this figure fell to around 14.9 million coins, the lowest since summer 2016. Currently, it stands at around 14.99 million, which is quite close to the bottom shown. Such a development indicates that investors have abandoned centralized platforms in favor of self-custody, thereby reducing immediate selling pressure.
Finally, we will describe the activity of the whales. X user CW claimed that large investors have continued to accumulate in the current price range, while Arkham has recently revealed that some mysterious market participants purchased over $100 million in ETH.
Speaking of whales, you have to watch BitMine’s actions. The company collected an additional 53,501 ETH over the past week, bringing its total reserve to 5,901,112 coins, very close to its goal of owning 5% of Ethereum’s entire supply. What’s more interesting is that this is the 65th consecutive week that BitMine has acquired ETH.
Something for the bears
Contrary to the aforementioned bullish signals, Ethereum’s seasonality suggests that bears may regain control in the coming weeks.
September is traditionally a weak period for the cryptocurrency, with its price ending in the red 7 times out of 11. What makes the current pattern even more concerning is that August ended in a positive manner, and throughout the asset’s history there has not been a year in which August and September closed with gains. It remains to be seen whether 2026 will finally break the negative trend.
Additionally, if you want to know more about the state of the market, the recent Iran-US tension, and other hot crypto news, please check out our video below.
The article 3 Reasons Why September Could Be Bullish for Ethereum (ETH) appeared first on CryptoPotato.