Ethereum's Q4 Surge? September Rate Cut Key to ETH Rally
Key Takeaways
Ethereum is heading into its strongest seasonal stretch. But flipping $7.5K into support and getting help from Q4 macro tailwinds are key for a shot at $10k.
Q4 has historically been Ethereum's [ETH] strongest quarter.
It has clocked in an average return of 85.4% and high hit rate on double-digit rallies. And that’s not just random. Fed easing cycles have consistently fueled risk assets, and ETH has been a major beneficiary.
Now, markets are repricing for a 50bps rate cut in September, even with inflation still sticky. That’s a clear tilt toward a risk-on posture. If the Fed delivers, prior Q4 flows suggest a push toward $10K by year-end.
That would mean tacking on another $5.5K in upside from the current spot.
Technically, ETH looks to be building a base between $6.3K–$6.8K. Supporting that, ETF flows have flipped positive, pulling in $90 million in net inflows after bleeding $1.5 billion over the prior four days.
That said, seasonality could limit near-term upside. August and September have been dead zones for ETH, averaging flat to negative returns. If that trend holds, a $7.5K breakout in the next 60 days might be premature.
ETH aligns with Q4 macro tailwinds
Historically, October–November have been ETH’s highest-beta window, averaging a combined return of +67.91%. Typically, it’s where impulse rallies get legs.
December, by contrast, tends to post modest average gains, often acting as a consolidation zone or final impulse leg, as investors look to lock in profits from prior upside moves.
So if the Fed cuts in September and ETH taps $7.5K as resistance, it would align almost perfectly with Ethereum's strongest historical momentum phase, setting the stage for a potential breakout into price discovery.
All things considered, markets leaning hard into a September rate cut is clearly more than just a macro trade. Instead, it’s a key inflection point, now just 45 days out.
Between now and then, if ETH wants to replay its typical Q4 expansion, it’ll need to flip the $7.5k level into support and get confirmation on the liquidity shift.
Until those align, its run to $10k may stay capped.