Analyst: Ethereum Derivatives Market Shows Buy-Side Dominant Signal, Possibly Indicating Bottom Formation

Odaily News CryptoQuant analyst Darkfrost posted on platform X, pointing out that a significant "institutional change" has appeared in the Ethereum derivatives market for the first time since the last bear market. On-chain data shows that ETH Net Taker Volume has shifted from a long-term negative value to a positive one, with buy-side pressure currently dominant, amounting to approximately $104 million.

Darkfrost stated that although Ethereum has been under prolonged pressure as it approached new highs, the current dominance of buy-side pressure may help form a more solid market bottom. If this trend persists and the spot market along with ETFs begin to support the uptrend, Ethereum may potentially initiate a new round of upward movement.