The “crowd has written off Ethereum,” reported Santiment on Tuesday. However, this makes the probability of a rebound “substantially higher,” it added.
The onchain analytics platform said that Ethereum’s social sentiment has fallen into an “extreme fear zone” as traders react to months of underperformance relative to Bitcoin and many other altcoins.
The recent selloff has been amplified by ongoing debate surrounding the Ethereum Foundation, criticism of its leadership and priorities, and controversial comments from Vitalik Buterin that have “fueled further uncertainty.”
Is a Rebound Likely?
Positive-to-negative commentary has dropped to one of its lowest levels of the year, indicating that bearish narratives are now dominating social media, said Santiment.
The same situation unfolded when ETH prices tanked to similar prices in April 2025. The FUD hit record levels, and everyone cried, “Ethereum is dead.”
Four months later, it had tripled in price to an all-time high.
“Historically, Ethereum has tended to rebound when social sentiment reaches extreme FUD levels because prices frequently move opposite to the crowd’s expectations.”
When traders become overwhelmingly convinced that an asset will continue falling, much of the selling pressure has already been exhausted, it added.
TL;DR: Crowd has written off Ethereum, making the probability of a rebound substantially higher
Metrics Used: Positive vs. Negative Commentary Ratio
Link: https://t.co/vCjlfHHuGE
Ethereum’s social sentiment has fallen into an extreme “fear zone” as traders react to… pic.twitter.com/XHAf2KglbR
— Santiment Intelligence (@SantimentData) June 9, 2026
According to Glassnode, the share of ETH supply held at more than 3x profit has dropped to just 11%, its lowest level since 2017. Ether’s profitability profile has “fundamentally compressed” relative to prior cycles, it added.
To add balance, Bitcoin’s supply in loss has hit a new yearly high of 50%, so the bear market is battering all crypto assets.
ETH Price Outlook
Ether price continues to weaken in the short-term, with it tapping an intraday low of $1,620 twice over the past 24 hours.
With no current drivers or momentum, a fall back towards $1,500 is looking highly likely. This level serves as a major support zone, as it did 14 months ago, when Ether was going through the same pain.
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