Santiment says surge in negative ETH comments may signal a buy-the-dip chance

On-chain analytics firm Santiment said the ratio of negative to positive comments on Ethereum across major communities including X, Reddit and Telegram hit extremely bearish levels three times over the past month. Santiment said this could appear negative on the surface, but in Ethereum’s case, such sharp deterioration in investor sentiment has coincided with price weakness and has instead pointed to buy-the-dip opportunities. Following the previous two sentiment slumps, ETH rebounded by about 14% and 7%, respectively, according to Santiment. Santiment added this does not mean negative sentiment automatically leads to an immediate price rebound. Still, if fundamentals such as ETF inflows, activity in the Layer 2 ecosystem and protocol upgrades remain intact even as market participants exit, conditions could form for a price recovery, the firm said.