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Point of View: Ethereum Price Action Shows Weakness But Has Not Peaked Yet, Merely in a Seasonal Trend
BlockBeats News, August 29th, trader CoinMamba posted, "The market seems a bit weak, but I took another look at the ETH chart, and in my opinion, we have not reached the peak yet. We are just going through a normal seasonal trend."
BlockBeats previously reported that on August 26th, Matrixport stated, "Most of the summer institutional funds have exited, but Ethereum continues to attract inflows, while Bitcoin ETF may see net outflows for the fifth consecutive month. The outflow this month is estimated to be about $1.2 billion, the second-highest in history, only behind February's $3.5 billion. Seasonal factors may be temporary, but they remind us that fund flows are equally important as seasonality. After maintaining a bullish stance in July, we turned cautious in August. Although macro and liquidity factors may still support Bitcoin, the current market still needs to remain vigilant."
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