Ethereum has just shown its clearest buy signal on derivatives markets since the 2022 bear market. For the crypto market, this is not yet a confirmed reversal. But it’s a shift in tone that deserves to be taken seriously. For months, Ethereum had been moving forward with an invisible brake. Even when the price attempted to recover, sellers still dominated derivatives. This imbalance is finally starting to crack, and this is precisely what is putting ETH back at the center of the crypto game.
In brief
- Ethereum shows its strongest buying pressure on derivatives since 2022.
- The crypto market is finally seeing buyers take back the initiative.
- The trend is changing, but confirmation still needs to be built.
A rare signal returns to the crypto ETH
According to CryptoQuant analyst Darkfost, Ethereum is now seeing its strongest buying pressure on derivatives since 2022. This point matters because it breaks from a long phase of selling dominance. The crypto market is watching this type of shift very closely. In this context, the renewed optimism is not limited to Ether: the CEO of Tether is also helping to revive the bullish sentiment around Bitcoin.
Regarding the crypto ETH, the indicator observed is the net taker volume. It measures the spread between aggressive buy orders and aggressive sell orders on derivatives platforms. When it clearly turns positive, it means that buyers agree to pay the market price to enter.
Since March, this flow has changed sides. Darkfost evokes a reading at +$102 million, a level which had not been seen since the great bearish phase of 2022, when ETH was moving around $1,000. This is not trivial. This is a sign that part of the market is starting to become offensive again.
Why Ethereum was stalling despite rising phases
The most interesting point is perhaps elsewhere. Ethereum was not always short of bullish narratives. It especially lacked solid support on derivatives. As long as the sellers held control, recovery attempts remained fragile.
Darkfost reminds that this pressure on crypto was particularly visible during previous peaks. In December 2024, when the asset was trying to settle above $4,000, the net taker volume dropped to -$511 million. The message was clear: the price of the ETH crypto was rising, but the derivative market continued to sell off.
The phenomenon even became more brutal at the next peak, close to $5,000. At that point, the selling pressure would have reached -$568 million. This is why some rises seemed to run out of air before even really taking off. The price was moving forward, but the engine was running out of time.
A start of recovery, not yet a victory
This change in flow does not mean that Ethereum has already won the game. The crypto market loves to turn a thrill into certainty. But here, caution remains useful. A strong signal does not suddenly erase months of sales domination.
The real question is duration. If buyers maintain control and continue to absorb selling pressure, then the scenario of a more structured recovery will become credible. This is also the important nuance of Darkfost’s reasoning. He is not talking about an actual reversal, but about an initial phase which could count.
In other words, Ethereum may be starting to emerge from its defensive phase. Nothing yet allows us to speak of a clear break, but the ground is moving. In a market as unstable as crypto, this kind of shift often seems discreet at first, before becoming much more readable over time. A bit like Anthony Scaramucci, still convinced that a bitcoin will one day reach 1 million dollars.
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