The Ethereum derivatives market has seen a rare net buying, marking the first time since the bear market of 2023
According to Cryptoquant analyst Darkfost, there has been a significant market pattern shift in Ethereum derivatives, the first since the bear market of 2023. Darkfost pointed out that while the net trading volume of ETH has been negative for most of 2023, it has now turned positive. Currently, this metric shows that buying pressure is dominant, with a buying amount of $104 million.
It is noteworthy that even when Ethereum's price was close to new highs previously, this metric indicated that selling pressure remained very strong, but now this situation seems to be changing.
Darkfost believes that due to the positive buying pressure facing Ethereum, this could help form a stronger bottom. If this dynamic continues, and the spot market and ETFs begin to support this trend, Ethereum may potentially resume its upward trend.
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