ETH spikes up 0.94% in the short term: extreme fear sentiment rebounds in sync with short liquidations

From 13:00 to 14:00 (UTC) on June 15, 2026, ETH delivered a +0.94% return within this time window. The price range was 1,774.56–1,797.8 USDT, with a swing of 1.31%. After a period of consecutive declines, the market showed a short-term rebound, with sentiment attention rising markedly and volatility expanding.

The main driver behind this move is a technical rebound from extreme fear sentiment. According to Santiment data, the ETH Fear and Greed Index has fallen to 18, placing it in the “Extreme Fear” state—this level is often accompanied by price rebounds. Historically, when social sentiment reaches extreme fear, ETH typically shows a contrarian move. Some contrarian investors also choose to buy at lower prices in extremely panicked conditions, driving a short-term price recovery.

In addition, large-holder cost support and short-covering create a resonance effect. In March 2026, a large holder accumulated 10,811.34 ETH via Cowswap at an average cost of about $2,088.79, leaving roughly a 13.2% discount versus the current price. This attracted strategic capital to set up positions near $1,800. At the same time, the derivatives market has a large number of short positions; when price rebounds even slightly, short covering accelerates, further amplifying the upside. The ongoing downtrend in exchange reserves also helps, at the fundamental level, to ease selling pressure and provide price support.

Short-term risks still need to be watched. The current price remains below the 200-day moving average. From a technical perspective, it faces pressure from the $2,308 realized price and the $2,388–$2,450 resistance zone. Investors should focus on on-chain fund flows, expectations for ETF fund flows, and Bitcoin’s performance around key support levels. They should also be wary of volatility risks stemming from macro policy uncertainty and are advised to manage position sizes reasonably.