Ethereum Sentiment Turns Bearish Again Amid Institutional Support

Ethereum traders have shown bearish sentiment for the third time this month, with social commentary ratios hitting lows similar to previous dips that preceded price rebounds of 14% and 7%. Despite the negative sentiment, Ethereum ETFs attracted $103.9 million last week, marking strong institutional demand.

On-chain data indicates Ethereum is undervalued relative to its cost basis, and declining Binance reserves suggest fewer coins are available to sell. These factors combined hint at diminishing downside risk and potential for a price turnaround soon.