Bull-to-bear ratio of 2.23 + ETF short-selling funds, when data conflicts, don't rush to pick a side—let the market find its own way.

Santiment points out that Ethereum sentiment has shifted from strong FOMO in April to current FUD. Harvard sold off after buying $87 million worth of ETH ETFs in the first quarter; Ethereum Foundation researchers resigned, and David Hoffman also announced his departure. Despite rising panic sentiment, the number of non-zero ETH wallets reached 192.9 million, and fundamental data does not support the claim that the network is dying. The BTC long-short ratio rose to 2.23, a recent high, and the extremely low short ratio also indicated a local bottom; ETF short capital flows contrast with optimistic sentiment, so caution is needed.