Ethereum : Buyer volumes on derivatives reach an unprecedented level since 2022

Ethereum has just shown its clearest buy signal on derivative markets since the 2022 bear market. For the crypto market, this is not yet a confirmed reversal. But it is a change of tone that deserves to be taken seriously. For months, Ethereum moved forward with an invisible brake. Even when the price tried to recover, sellers still dominated derivatives. This imbalance is finally beginning to crack, and this is exactly what puts ETH back at the center of the crypto game.

A rare signal returns to ETH crypto

According to CryptoQuant analyst Darkfost, Ethereum now records its strongest buying pressure on derivatives since 2022. This point matters because it breaks with a long phase of selling dominance. The crypto market watches this type of shift very closely. In this context, the renewed optimism is not limited to Ether: the CEO of Tether also contributes to reviving bullish sentiment around Bitcoin.

Regarding ETH crypto, the observed indicator is the net taker volume. It measures the gap between aggressive buy orders and aggressive sell orders on derivative product platforms. When it turns clearly positive, it means buyers accept to pay the market price to enter.

Since March, this flow has changed sides. Darkfost mentions a reading at +102 million dollars, a level not seen since the major bearish phase of 2022, when ETH hovered around 1,000 dollars. This is not trivial. It’s a sign that part of the market is starting to become offensive again.

Why Ethereum stalled despite the bullish phases

The most interesting point may be elsewhere. Ethereum did not always lack bullish narratives. It mainly lacked solid support on derivatives. As long as sellers had the upper hand, recovery attempts remained fragile.

Darkfost reminds that this pressure on crypto was particularly visible during previous peaks. In December 2024, when the asset tried to settle above 4,000 dollars, the net taker volume dropped to -511 million dollars. The message was clear: ETH crypto price was rising, but the derivatives market kept selling.

The phenomenon even became more brutal during the following peak, close to 5,000 dollars. At that time, selling pressure would have reached -568 million dollars. This is why some rallies seemed to lack air before really taking off. The price was moving forward, but the engine was running out of sync.

A start of recovery, not yet a victory

This change of flow does not mean that Ethereum has already won the game. The crypto market loves to transform a ripple into certainty. Yet here, caution remains useful. A strong signal does not suddenly erase months of selling dominance.

The real question is about duration. If buyers maintain control and continue to absorb selling pressure, then the scenario of a more structured recovery will become credible. This is indeed the important nuance in Darkfost’s reasoning. He does not speak of a confirmed reversal, but of an initial phase that could matter.

In other words, Ethereum may be starting to exit its defensive phase. Nothing yet allows to speak of a clear breakout, but the ground is shifting. In a market as unstable as crypto, this kind of turn often appears 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.