Fear and grief caused by the pandemic have produced a powerful unconscious narrative in the collective psyche that the coronavirus is driven by an innately evil, and possibly divine, force. The resulting archetypal dimension of fear causes an extra layer of psychological suffering in individuals. This paper discusses how and why this narrative was created and why it is so compelling by looking at 1) the myth-making nature of the human psyche, 2) the psychodynamics of fear that drive the narrative, 3) the properties of the coronavirus and the pandemic that activate negative poles of some archetypes, in particular, archetypes of evil, and 4) asking how analytical psychology can help ease psychological suffering caused by these negative narratives, where one possibility is to invoke the transcendent function. The author's personal experiences as both biochemist and analytical psychologist elucidate how the transcendent function can promote healing.