The Ethereum derivatives market sees a rare net buying, the first since the bear market in 2023.

BlockBeats news, on April 4, according to Cryptoquant analyst Darkfost, the current Ethereum derivatives market is experiencing a major structural shift, which is the first since the bear market of 2023.

Darkfost pointed out that although ETH's net trading volume had mostly been negative since 2023, it has now turned positive. (Note: Net trading volume is an indicator used to assess whether buying or selling pressure dominates in derivatives order books.) At present, this indicator shows that buying pressure dominates, with purchases reaching $104 million.

It is noteworthy that even when the Ethereum price was approaching new highs previously, this indicator showed that selling pressure remained very strong, but now this situation seems to be changing.

Darkfost believes that, as Ethereum faces strong buying pressure, this could help form a stronger bottom. If this dynamic continues and the spot market along with ETF starts to support this trend, Ethereum could potentially resume its upward trajectory.