Ethereum Sentiment Turns Bearish for Third Time in a Month

July 25, 2026 · Markets · CryptoRefuge Team

Ethereum sentiment turned very bearish for the third time in a month. The bearish sentiment is reflected in the latest data from Santiment, which suggests that traders are loudly giving up on Ethereum.

$103.9 million in ETF inflows have been recorded, indicating continued interest in the cryptocurrency.

Live market snapshot (at publish): ETH $1,868.15 (+0.6% 24h) · BTC $64,174 (+0.2% 24h)

The current ETH price is $1,854, with a recent rebound of 14% and a subsequent pullback of 7%. The realized price of ETH is $2,304, indicating potential undervaluation. The ETH/BTC exchange inflow ratio is 0.8, suggesting moderate Ethereum flow into exchanges. Binance reserves have increased to 5 million ETH, up from 3.8 million ETH.

"The bullish takeaway isn’t that negative sentiment guarantees an instant reversal. It’s that when traders are loudly giving up on Ethereum while ETF flows, L2 activity, and protocol upgrades remain active, the #2 market cap in crypto often gets a cleaner setup for a turn-around…" — Santiment

Macro factors influencing Ethereum sentiment include steadily increasing ETF flows, the US 10-year yield, and commodity prices like Brent crude oil. The Nasdaq 100's moderate increase could have a positive effect on digital assets. Original charts provided by BeInCrypto show Ethereum price performance and the positive vs negative commentary ratio lows preceding a rebound.

Analysis: If current sentiment persists, Ethereum prices may decline further. However, if ETF flows and on-chain metrics remain active, a potential ETH price rebound could be on the horizon. A break above $1,900 could signal a bullish trend, while a drop below $1,800 could indicate bearish continuation.

The market awaits upcoming ETF inflows and on-chain metrics to determine Ethereum's next move. A specific date to watch is the next ETF inflow report, which could provide further insight into market sentiment.