Analysis: After ETH broke below the key support level of $2,000, retail investors showed a "buy the dip" sentiment, which may indicate that there is still room for further decline.

According to Mars Finance, crypto market research firm Santiment reported that ETH has fallen below $2,000 for the first time since March 29th. Typically, after a sharp price drop, two typical market sentiments emerge: one is retail investors experiencing FUD (Fear of Uncertainty) due to weak performance, and the other is FOMO (Fear of Missing Opportunities) where the decline is seen as a "discounted buying opportunity." Santiment points out that the market is currently experiencing the latter. As ETH broke through key psychological support levels, many retail investors began "buying on the dip." They believe this usually means that ETH prices may still have room to fall further, as retail sentiment is currently overly optimistic, and historically, the market's masses have often misjudged the situation. Santiment states that truly better buying opportunities usually arise after market FOMO cools down and sentiment shifts to panic.