BroadChain has learned from a post by CryptoQuant analyst Darkfrost that the Ethereum derivatives market is witnessing its first significant "institutional shift" since the last bear market.
On-chain data indicates that ETH Net Taker Volume has turned positive after a prolonged period in negative territory, signaling that buying pressure is now dominant—to the tune of roughly $104 million.
Darkfrost pointed out that despite Ethereum facing sustained resistance near recent highs, this current buyer-led dynamic could help solidify a stronger market floor. Should this trend continue, and if spot markets and ETFs start to provide upward momentum, Ethereum may be poised to enter a new bullish cycle.