In a notable development in the crypto market, the Ethereum derivatives market has recorded net inflows for the first time after a long hiatus.
Darkfost, an analyst at the analytics platform CryptoQuant, noted that this is the first significant structural change observed since the 2023 bear market.
According to data shared by Darkforce, the net trading volume of the Ethereum derivatives market, which was mainly negative throughout the year, has turned positive again. Net trading volume is an important indicator of which direction buying or selling pressure is concentrated in the derivatives order book. According to current data, the market is dominated by buyers, with approximately $104 million in buy orders.
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The analyst also pointed out another notable detail. Even when the price of Ethereum was close to peak levels, this indicator was showing strong selling pressure, but the current situation means that this dynamic is starting to reverse. This change has been interpreted as a harbinger of broader changes in market structure.
According to Darkforth, increased buying pressure in the derivatives market could pave the way for Ethereum’s bottom to become more solid. If this trend continues and the spot market and ETFs support it, Ethereum could return to an uptrend.
*This is not investment advice.
