Ethereum Shatters 'September Curse' with Strongest Monthly Gain Since 2016
Ethereum is breaking its notorious 'September curse' after experiencing a significant gain in September. The cryptocurrency's price has risen by approximately 9% this month, with its current trading value at $2,712.51. This marks the strongest September performance since 2016, when Ethereum saw a 13.3% increase.
According to technical momentum indicators, Ethereum has regained the $2,700 level and broken its previous bearish structure. Its price ratio versus Bitcoin remains around 0.032 BTC. The influence of Hyperliquid's Ethereum open interest also stood out in the recent rally, rising by 2.46% to over $3 billion.
Large investors' positioning was mixed, with more than 65% of Hyperliquid whale accounts holding net-long positions. However, the platform's largest Ethereum position is a short position worth $283 million, generating around $2.6 million in funding income due to a positive funding rate.