Analysis: After ETH broke below the key $2,000 support, retail investors showed a "buy the dip" sentiment, which may indicate further downside potential.

BlockBeats News, May 28th, Cryptocurrency market research firm Santiment published a post stating that ETH has dropped below $2000 for the first time since March 29th. Usually after a significant price drop, the market exhibits two typical emotions: one is retail investors falling into FUD due to weak performance, and the other is seeing the drop as a "discount buying opportunity" fueled by FOMO sentiment. Santiment pointed out that the latter is currently happening in the market. With ETH breaking below a key psychological support level, many retail investors are starting to "buy the dip."

They believe that this usually indicates that ETH's price may still have further room to drop, as retail investor sentiment is currently overly optimistic, and historically, the general public tends to make wrong judgments. Santiment stated that a truly better buying opportunity often occurs after the market's FOMO subsides and the sentiment turns towards panic.