Ether's Sentiment Hits Low, Potential Price Reversal Expected

According to Cointelegraph, Ether's market sentiment has likely reached its lowest point, suggesting a potential near-term price reversal. Ed Hindi, co-founder of Swiss investment firm Tyr Capital, highlighted in a February 13 market report that Ethereum has hit peak bearishness and is now at a critical juncture. Hindi anticipates that Ether could retest the $4,000 mark in the coming months, as weaker investors have exited the market. Hindi compared the current Ether market to Bitcoin's state before the launch of spot exchange-traded funds (ETFs) in the United States in January 2024. He expects institutions holding Bitcoin to begin incorporating Ether into their portfolios. At the time of publication, Ether (ETH) is trading at $2,673, reflecting a 0.64% decline over the past week, as reported by CoinMarketCap. The sentiment surrounding Ether remains weak, as noted by Unchained podcast host Laura Shin. She observed that Ethereum founder Vitalik Buterin's controversial comment to "make communism great again" has garnered more attention than the news of 21Shares' request to include staking in its spot Ether ETF. Following 21Shares' filing on February 12, Ether briefly rose by 3.5% to $2,776 but lost those gains within 24 hours. Crypto analyst Johnny remarked to his 808,000 followers on X that it is "honestly comical" how Ether has completely retraced its ETF staking pump. Meanwhile, Tyr Capital's Hindi expressed optimism, suggesting that Ether could surge to $4,000 in the coming months and potentially reach new all-time highs of $5,000 in 2025, representing gains of 49% and 86% from its current price, respectively. Several crypto commentators share Hindi's outlook, predicting an imminent price increase for ETH. Crypto trader Crypto Mister stated in a February 13 post on X that an ETH reversal is only a matter of time. Similarly, crypto trader Poseidon predicted on the same day that Ether's price would exceed $10,000 by March. This article does not offer investment advice or recommendations. Every investment and trading decision involves risk, and readers are encouraged to conduct their own research before making any decisions.