Ethereum traders have transitioned from fear to a state of FOMO (Fear of Missing Out) as the cryptocurrency's price approaches $3,500. According to analytics firm Santiment, this shift from extreme bearishness to optimism occurred rapidly, underscoring the impact of retail sentiment on short-term price movements. Santiment cautions that such crowd euphoria could precede a market cooldown, as historical patterns often see prices moving contrary to prevailing sentiment.