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CryptoPotato1 min read
Ethereum Just Saw Its Strongest Buy Pressure Since The 2022 Bear Market
TL;DR
Ethereum has experienced its strongest buy pressure on derivatives markets since the 2022 bear market, indicating a potential shift from previous sell-side dominance. This change could signal a notable break in the ongoing negative trend for ETH.
Key points
- Ethereum shows strongest buy pressure since 2022 bear market
- Analyst Darkfost highlights shift from sell-side dominance
- Net taker volume indicates change in market sentiment
Mentioned in this story
Darkfost
Ethereum has posted its strongest buy-side pressure on derivatives markets since the 2022 bear market, according to CryptoQuant analyst Darkfost, a shift that could matter after months of persistent sell-side dominance across this cycle. The change does not, on its own, confirm a full trend reversal. But it does mark a notable break from the pattern that has weighed on ETH during key upside attempts.
Ethereum Flashes Early Recovery Signal
In a post shared on X on April 18, Darkfost argued that Ethereum has spent most of the cycle fighting “unusually heavy selling pressure on derivatives markets.” He pointed to net taker volume, a measure of the imbalance between buy and sell market orders on derivatives exchanges, which he said “remained almost consistently negative” throughout the period.
ETH Net Taker Volume | Source: X @Darkfost_Coc
That pressure was especially visible during ETH’s attempts to push into higher price territory. Darkfost wrote: “This was particularly visible when ETH attempted to break into a new all time high above $4,000 in December 2024. At that time, net taker volume fell to -$511 million. It became even more extreme when ETH later printed its all time high just below $5,000, as sell-side pressure heavily dominated with -$568 million in net taker volume.”
In Darkfost’s reading, even when ETH was pressing toward local highs, aggressive sellers in derivatives were still overwhelming buyers. That helps explain why upside momentum struggled to translate into a cleaner breakout environment. Strong spot narratives or bullish sentiment alone were not enough if the derivatives complex kept leaning the other way.
That dynamic, he said, has now started to change. “Since March, buy-side volumes have finally taken control, with +$102 million recorded today,” Darkfost wrote. “The last time Ethereum saw such a strong level of buying pressure on derivatives markets was during the previous bear market in 2022, when ETH was trading around the $1,000 area.”
Q&A
What does the recent buy pressure on Ethereum indicate?
The recent buy pressure on Ethereum suggests a potential shift in market dynamics, moving away from the persistent sell-side dominance seen in recent months.
Who is Darkfost and what did he say about Ethereum's market activity?
Darkfost is a CryptoQuant analyst who noted that Ethereum has faced heavy selling pressure but recently showed strong buy-side activity, marking a significant change in market sentiment.
How does net taker volume relate to Ethereum's market trends?
Net taker volume measures the imbalance between buy and sell orders; a consistently negative net taker volume for Ethereum indicated heavy selling pressure, which has recently shifted positively.
