Ethereum sentiment reaches historic setup ahead of potential major run: Santiment 

Ethereum’s declining social media sentiment mirrors levels seen before its 2025 price rally that pushed the asset to new all-time highs, according to Santiment analyst Brian Quinlivan.

The on-chain analytics firm sees the current setup as potentially bullish, similar to conditions that preceded ETH’s surge from $1,470 in April 2025 to $4,900 by August.

“Ethereum is actually way down, this would argue against us falling too much further,” Quinlivan said in a YouTube video published Saturday. “This is kind of reminiscent of what we saw before Ethereum went on its major run last year.”

Ethereum (ETH) currently trades at $3,099, up 0.4% over 24 hours but down 4.5% over 30 days and 4.2% over the past year.

August 2025 rally followed widespread pessimism

Ethereum surged to $4,900 on August 23, 2025, surpassing its previous 2021 peak after rebounding from yearly lows near $1,470 in April, according to CoinGecko data.

Quinlivan noted that Ether’s price “took off just as people were really starting to write-off Ethereum.” The sentiment reversal came as doubts about Ethereum’s competitive position reached peak levels on social media platforms.

ETH has since dropped 36% from its all-time high following a $19 billion crypto market liquidation event on October 10 that triggered a broader market downtrend. The token trades at $3,099, showing 5.5% gains over 14 days.

Quinlivan distinguished current sentiment from early 2025 conditions. “I wouldn’t say that is happening now. Ethereum is kind of back to being an expected number two market cap for a lot of people,” he stated. “It’s appropriately ranked once again.”

Network growth rises amid staking interest

Quinlivan said he remains bullish on Ethereum’s network growth, describing it as “absolutely going bonkers.” The growth likely stems from rising staking interest, which has become a hot topic on social media recently.

Sentiment in the broader crypto market continues hovering at low levels, moving between “Fear” and “Extreme Fear” since early November. The Crypto Fear & Greed Index posted a “Fear” score of 29 on Sunday.

The setup suggests potential for upside if sentiment follows patterns observed before the 2025 rally.