Ethereum is showing its strongest buying pressure in derivatives markets since the 2022 bear market, according to CryptoQuant analyst Darkfost. This shift is significant after months of persistent selling dominance throughout the current cycle.
While this change alone doesn’t confirm a full trend reversal, it does represent a notable break from the pattern that has held Ethereum back during previous attempts to rally.
In a post on April 18, Darkfost noted that Ethereum has faced “unusually heavy selling pressure on derivatives markets” for most of the cycle. He pointed to net taker volume—which measures the imbalance between buy and sell orders—remaining consistently negative during this period.
This selling pressure was especially apparent when Ethereum tried to reach new highs. For instance, when ETH attempted to break above $4,000 in December 2024, net taker volume dropped to -$511 million. The pressure intensified when ETH later approached its all-time high near $5,000, with net taker volume reaching -$568 million.
According to Darkfost, even during rallies, aggressive sellers in derivatives markets overwhelmed buyers, which helps explain why upward momentum often stalled.
However, this dynamic has recently started to shift. “Since March, buy-side volumes have finally taken control, with +$102 million recorded today,” Darkfost wrote. He noted that the last time Ethereum saw such strong buying pressure in derivatives was during the 2022 bear market, when ETH was trading around $1,000.
This comparison is important because it suggests the current move is more than just routine market noise—it could signal a meaningful shift in trading flows. On charts, positive net taker volume has reappeared after a prolonged period of negative readings.
For traders, sustained positive taker flow indicates that buyers are becoming more willing to step in and lift prices rather than waiting for declines.
Still, Darkfost stopped short of declaring a confirmed reversal. He emphasized that if this trend continues and buyers keep absorbing selling pressure, it could mark the beginning of a stronger recovery for Ethereum. One strong reading doesn’t erase months of negative pressure, but persistence would.
At the time of reporting, ETH was trading at $2,288.
Frequently Asked Questions
FAQs Ethereums Strongest Buying Pressure Since 2022
Beginner Questions
1 What does strongest buying pressure since the 2022 bear market mean
It means that the current demand to buy Ethereum is at its highest level since the major crypto market downturn that began in 2022 More people and institutions are trying to buy ETH than sell it which is a strong bullish signal
2 Why is this happening now
A few key reasons are converging excitement around the recent approval of US spot Ethereum ETFs anticipation of major network upgrades and a general positive shift in overall crypto market sentiment
3 Is this a good time to buy Ethereum
While strong buying pressure is a positive sign it doesnt guarantee future price increases It indicates high demand and optimism You should always do your own research consider your financial goals and risk tolerance and never invest more than you can afford to lose
4 Whats the difference between buying pressure and the price going up
Buying pressure is the cause and a price increase is often the effect High buying pressure means buy orders are overwhelming sell orders which typically pushes the price upward However if large sell orders appear they can counteract that pressure
5 How can I check this buying pressure for myself
You can look at trading volume on major exchanges order book depth and onchain metrics like exchange netflows
Intermediate Advanced Questions
6 What specific onchain metrics show this buying pressure
Key metrics include
Negative Exchange Netflow More ETH is being withdrawn from exchanges to private wallets than is being deposited for selling
Increasing Supply in Smart Contracts More ETH is being locked in DeFi protocols staking contracts and Layer 2 bridges reducing liquid supply
Rising Mean Coin Age The average time ETH tokens are held without moving is increasing indicating holders are not selling
7 Are institutions really buying or is this just retail hype
The approval of spot Ethereum ETFs is a direct pipeline for institutional capital The buying pressure is likely a mix of