Ethereum Derivatives "Net Taker Volume" Turns Positive for First Time in Three Years

Ethereum has spent nearly a month trading around $2,000, with charts offering little clarity on a sustained rebound. Fresh on-chain signals, though, suggest a potentially constructive shift may be taking shape. In an April 4 post, pseudonymous analyst Darkfost said Ethereum's derivatives market is showing a regime change not seen since the last bearish phase, pointing to a recent turn in the "Net Taker Volume" metric. Net Taker Volume tracks the balance between market-buy and market-sell order volume in a crypto's derivatives market. Positive readings indicate buyers are dominating; negative readings signal heavier sell-side pressure. Citing CryptoQuant data, Darkfost noted Ethereum's Net Taker Volume has moved into positive territory by more than $104 million, the first such shift in the past three years. The analyst added that ETH faced strong selling pressure even as it rallied to record highs, but said the current change could help form a durable bottom and lay groundwork for a more bullish structure. Darkfost said a continued bid, paired with support from the spot market and ETFs, could allow Ethereum to resume a positive trend. US-listed spot Ethereum ETFs extended their weak streak, logging a third consecutive week of net outflows. Market data show more than $42.15 million was withdrawn over the past week. On Thursday, April 3, the products recorded total net outflows of over $71.12 million, underscoring softer investor demand. At the time of writing, ETH was trading around $2,058, up 0.6% over the past 24 hours.