A shift in Ethereum’s derivatives flow on Binance is starting to hint at a 
possible change in market structure, even as ETH itself remains in a 
corrective phase. According to CryptoQuant contributor Darkfost, the Taker Buy 
Sell Ratio is no longer flashing the same persistent sell-side aggression that 
dominated as the asset pushed toward a new all-time high. Darkfost argues that 
the indicator offers a useful read on who is pressing harder in the futures 
market. “This indicator is effective for assessing directional dominance 
between market buy and sell orders executed on futures contracts. A ratio 
above 1 indicates buyer dominance, while a ratio below 1 suggests that selling 
aggressiveness is prevailing within transactional flows.” Ethereum Shows Fresh 
Bullish Shift That distinction mattered during Ethereum’s run toward record 
levels. In that period, Darkfost said, selling pressure in the futures market 
intensified at the same time, keeping the ratio consistently below its 
equilibrium level of 1. On Binance, the monthly Taker Buy Sell Ratio fell to 
0.95, while the weekly average dropped even further to 0.92, pointing to a 
market where aggressive sellers were controlling the flow. Related Reading: 
Ethereum DeFi Warning: Vitalik Flags Oracles As A Hidden Time Bomb The 
backdrop is significant because derivatives now sit at the center of crypto 
price formation. Darkfost noted that the derivatives market accounts for 
nearly $65 billion in volume and plays a leading role in price discovery, 
making order-flow analysis increasingly important for reading the market 
beneath headline price action. In that context, a ratio stuck below 1 was more 
than a minor technical detail; it suggested that upside conditions were being 
undermined by persistent futures-led selling pressure. What makes the current 
setup more interesting is that the flow data has begun to improve before any 
obvious reversal in Ethereum’s spot chart. “On Binance, the weekly ratio has 
been hovering around the neutral threshold for the past two weeks. This shift 
is particularly notable as it diverges from ETH price action, which remains in 
a corrective phase. Daily spikes above 1.12 have even been recorded, 
reflecting episodes of aggressive market buying.” Related Reading: The $2,000 
Fault Line: Why Ethereum’s Record Volatility Signals An Imminent Explosion 
That divergence is the core of the thesis. While ETH has yet to fully reflect 
it in price, the behavior of takers in the futures market is no longer 
uniformly defensive. The monthly average has also started to recover, climbing 
back to around 0.99. That still falls just short of clear buyer dominance, but 
it marks a meaningful improvement from the earlier stretch of sub-1 readings. 
Darkfost stops well short of calling a confirmed reversal. “Although this 
configuration still requires confirmation, it constitutes a constructive 
signal. A sustained move above 1 would mark a transition toward buyer 
dominance, potentially supporting a more favorable market dynamic for ETH in 
the short to medium term.” For now, the signal is less about declaring the 
correction over than about identifying a change in pressure. If the ratio can 
hold near neutral and then push decisively above 1, it would suggest that the 
market driving price discovery is beginning to lean back toward buyers. At 
press time, ETH traded at $2,028. Featured image created with DALL.E, chart 
from TradingView.com

Ethereum Flashes Early Reversal Signal As Taker Ratio Turns

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