Throughout this cycle, Ethereum has faced abnormally strong selling pressure in the derivatives market. Net Taker Volume (a metric measuring the difference between market buy and sell orders on derivative exchanges) has consistently remained in negative territory. This trend was particularly pronounced when ETH attempted to break above its all-time high of $4,000 in December 2024, at which point Net Taker Volume dropped to -$511 million. Later, when ETH reached a new all-time high near $5,000, selling pressure remained overwhelmingly dominant, with Net Taker Volume reaching -$568 million. However, the situation has now changed significantly. Since March, buyers have finally regained control, with Net Taker Volume reaching +$120 million today. This level of strong buying pressure in the derivatives market has not been seen since Ethereum’s price hovered around $1,000 during the 2022 bear market. If this trend continues and buyers sustain their ability to absorb selling pressure, it could signal the early stage of a more structural and robust recovery for Ethereum.