Ethereum Sentiment Mirrors Levels Seen Before ‘Major Run’
- Ethereum social sentiment has dropped to historically pessimistic levels
- Similar sentiment conditions preceded ETH’s major 2025 rally
- Analysts say current negativity may limit further downside
- Network growth and staking interest remain strong despite fear
Ethereum’s social media sentiment has declined to levels that closely resemble conditions seen ahead of its last major price rally, a period that ultimately pushed Ether back to its 2021 all-time highs, according to analytics platform Santiment.
Santiment analyst Brian Quinlivan said the current mood surrounding Ethereum suggests that bearish sentiment may already be largely priced in. Speaking in a recent video update, Quinlivan noted that Ether tends to perform strongly when skepticism peaks, adding that current conditions are “kind of reminiscent” of what the market looked like before Ethereum’s explosive run in 2025.
During that rally, Ether rebounded sharply from lows near $1,470 in April before surging to a new all-time high of roughly $4,900 in August, overtaking its previous 2021 peak. Quinlivan said the rally began at a time when many investors had effectively written off Ethereum’s prospects.
Ethereum’s Market Position Remains Intact
Since reaching its peak, Ether has declined around 36%, recently trading just above $3,000 following a marketwide liquidation event in October that triggered a broader crypto downturn. Despite the pullback, Quinlivan argues that investor confidence in Ethereum’s role within the crypto ecosystem remains far stronger than it was during early 2025.
He said Ethereum has reestablished itself as the clear second-largest cryptocurrency by market capitalization, with fewer doubts about its long-term relevance. That view aligns with commentary from institutional players, including Coinbase Asset Management, which has described Ethereum as a core allocation alongside Bitcoin in diversified crypto portfolios.
Fear Persists Across the Broader Crypto Market
While sentiment around Ethereum has improved relative to last year’s extremes, the broader crypto market remains stuck in fear-driven territory. The Crypto Fear and Greed Index has fluctuated between “Fear” and “Extreme Fear” since November, signaling ongoing risk aversion among traders.
Quinlivan remains bullish on Ethereum’s underlying network activity, describing onchain growth as accelerating rapidly. He attributes much of the momentum to renewed interest in staking, which has become a frequent topic across crypto social platforms.
At the same time, market indicators show capital continuing to favor Bitcoin over altcoins. The Altcoin Season Index currently reflects a “Bitcoin Season,” suggesting investors remain cautious about rotating into higher-risk assets until sentiment stabilizes further.
