According to Cointelegraph, blockchain data platform Santiment stated in an X post released on March 5th that its social sentiment tracker found that traders were more pessimistic about Ethereum compared to other major cryptocurrencies on social media channels such as X, Reddit, and Telegram, and the community's sentiment towards Ethereum hit a new low for the year. Santiment said, "For those who patiently hold Ethereum, the generally bearish sentiment on social media is a good sign of a potential turning point, and once the cryptocurrency market stabilizes, Ethereum may rebound
Mike Cahill, CEO of Douro Labs, stated in an interview that while Ethereum's poor performance may lead to a decline in social sentiment, it is important to "separate short-term narratives from long-term fundamentals. He said, "Historically, extreme bearish sentiment often coincides with market bottoms because price movements often lead social sentiment rather than the opposite. If the cryptocurrency market stabilizes, Ethereum will be in a favorable position to benefit from new liquidity and sustained institutional interest
