Ethereum 
$4,277.29He approached $ 5,000 at the end of August, but his rally was cut short and reached the highest level of all time with $ 4,955 on August 24th. Since then, Ethereum remained between 4.209 and $ 4,797 and failed to reach $ 5,000. Weak US employment data and the first rise reaction increased the hopes of interest rate reduction in September, the crypto markets decreased, at the time of writing this article, ETH was traded for $ 4.295 in the last 24 hours.
Direction determination in ETH
While the market is waiting for the next major move, analysts give clues that Ethereum creates a local summit that the upward momentum will not be possible in the short term.
According to Cryptoquant Analyst Maartunn, ETH futures continue to be under pressure. The net buyer volume is heavily negatively with the sellers who sell 570 million dollars more than buyers. Maartunn adds that such an aggressive sales level is historically close to local peaks.
On the other hand, exits from Ethereum ETFs are experiencing. On September 5, Ethereum Spot ETFs experienced the second largest output in history with a total net output of $ 447 million, and reversed the major entrance trend for a month. Bitcoin 
$110,324.56 Spot ETFs recorded a total net output of 160 million dollars and none of the 12 ETF could enter the net.
According to Glassnode, more than 50 %of ETHereum ETF inputs coincided with the increase in CME open positions. This may indicate that Tradfi (traditional finance) activity is not only a oriental movement, but contains a mixture of both direct positioning and arbitrage strategies with ETH’s trading under local peaks.
According to recent reports, an investor participating in the Ethereum ICO stacted 150,000 ETH (worth $ 656 million), which has been idle for eight years. This participant received 300,000 ETH for $ 93,300 during ICO.
Expectations in the short term
The latest statements indicate that there may be a cooling period in the short term for Ethereum. In particular, it is necessary to draw attention to a few important points:
- Whale activity and futures procedures: Maartunn’s analysis shows that large players are concentrated on the sales side of the futures market. Historically, this is considered as an indication that prices will have difficulty in rising further.
- ETF Outputs: The release of Spot Bitcoin ETFs greatly increased the interest of corporate investors’ interest in crypto money. However, net outputs from both Bitcoin and Ethereum ETFs may indicate that there is a certain amount of profit realization or a cautious stance, especially on the corporate side. This may slow down the rise acceleration in the market for a short time.
- Arbitrage Strategies: Glassnode data shows that some movements in Ethereum are not only made with price expectations, but also include arbitrage strategies to benefit from price differences between different markets. This is a sign that the market has become more complex and professional.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
