Santiment: Bitcoin's long/short ratio surges to 2.23, a new high for the year, potentially indicating a short-term pullback.

CoinFeed reported on May 31 that Santiment, a crypto sentiment platform, analyzed that the ratio of positive to negative comments on Ethereum has shifted from strong FOMO (Fear of Missing Out) sentiment in late April to a more pronounced FUD (Fear of Uncertainty) sentiment. Harvard University liquidated its entire $87 million Ethereum ETF investment after one quarter; Ethereum Foundation researchers announced their resignations; and David Hoffman publicly stated his withdrawal from the Ethereum project. The Santiment team interprets this trend as a mildly bullish signal, similar to the significant surge that followed the market sentiment trough in mid-2023. Despite the panic, the number of non-empty Ethereum wallets remains a high 192.92 million, more than three times that of Bitcoin's approximately 59 million.