Ethereum buying pressure reaches a turning point: The positive signal after 3 years reveals the true market sentiment

As of January 30, 2026, a historic shift is occurring in the Ethereum derivatives market. After three years of dominance by sellers, buying pressure in the ETH market has clearly turned positive, signaling a flow of new energy between traders and institutional investors. This market structure reversal suggests more than just a temporary price rebound; it indicates a deeper re-positioning within the market.

What the Reversal of Buying Pressure Means: The First Positive Turn in Three Years

Since early 2023, Ethereum’s net taker volume has remained in negative territory. This metric is a key indicator tracking whether futures traders are predominantly buying or selling across the market. A long-term negative reading typically indicates risk aversion and distribution pressure among market participants.

According to CryptoQuant data, since January 6, ETH’s net taker trading volume has reached approximately $390 million in positive territory. This represents the strongest buying imbalance in nearly three years and reflects renewed interest from leverage traders and institutional investors.

The significance of this shift lies in historical patterns. Past statistics show that when net taker volume exhibits such a positive flip, the following sequences often occur:

• Formation of a Range Bottom: A sign that the market has reached a trough
• Initial Uptrend Emergence: Establishment of buying dominance
• Trend Expansion Phase: Continuation of upward movement over multiple weeks

This is not merely a temporary short squeeze but suggests that the futures market is re-allocating positions ahead of broader changes in Ethereum’s price structure.

The Surge in Net Taker Volume: The $390 Million Buying Imbalance and Institutional Trends

The shift to positive buying pressure among futures traders marks a major turning point in market sentiment. The previous sustained negative reading (dominating ETH markets from 2023 to 2025) indicated risk aversion and selling pressure.

This new positive turn suggests:

• Absorption by Large Players: Smart money quietly accumulating supply
• Transition to Early Market Structure: Moving from a distribution phase to accumulation
• Re-evaluation of Trader Psychology: Shifting from negative sentiment to neutral

Importantly, this indicator often appears during the early stages of trend reversal, rather than near market tops. In other words, the rapid increase in buying pressure tends to be detected during the phase when the market has bottomed out and is beginning to recover, not after prices have already risen significantly.

Despite Short-term Selling Pressure, the $3,000 Support Holds: Signs of Large Player Absorption

While buying pressure in the derivatives market has improved, spot market data presents a different picture. ETH’s current price hovers around $2.68K, down 4.43% in 24 hours.

CryptoQuant data shows that Ethereum’s Cumulative Volume Delta (CVD) remains negative at –3,676 ETH, indicating ongoing short-term selling pressure.

However, a notable phenomenon is emerging: Why isn’t the price collapsing despite continued selling pressure? — This is a crucial signal suggesting that large players are actively absorbing supply in the background.

The 30-day correlation between price and CVD is approximately 0.62, indicating they are not perfectly synchronized. This situation typically occurs during:

• Re-positioning in a correction phase: Short-term traders are taking profits while large players quietly expand their positions
• Liquidity support maintenance: Despite selling flows, sufficient buy orders exist to support the price
• Psychological and behavioral gap: Negative volume flows coexist with latent positive buying pressure

Technical Signals Indicating Structural Shift: The Importance of the $3,000–$3,140 Range

From a market structure perspective, Ethereum is currently situated at a five-month control point between $3,050 and $3,140. This zone was identified in previous analysis as a key reference band, representing fair value.

Technical analysis suggests that maintaining a daily close above $3,000 is a sign that the broader upward trend structure remains intact. Conversely, sustained closes below this level could signal a shift toward a bearish structure.

Hyblock chain data on positioning shows:

• Concentration around $3,100: Approximately $540 million in net long positions
• Support below $3,000: An additional $500 million in liquidity pockets

This clustering indicates:

• Potential consolidation phase: ETH may continue to trade within this range
• Strategic reallocation by large players: Positions are being adjusted within this zone
• Strengthening of support at $3,000: Multiple liquidity layers reinforce this psychological support level

What the Market Structure Shift in Ethereum Means for Future Developments

Although current price movements are subdued, the reversal of buying pressure in ETH’s derivatives market signals the most significant structural change since early 2023.

The importance of this signal lies in the following points:

1. Sustained Buying Pressure Is Key
Historical patterns show that when net taker volume remains in positive territory, subsequent trend developments are often not bearish reversals but rather a continuation of a broader upward trend. Confirmation, however, depends on macro conditions and ongoing positioning trends.

2. Completion of Large Player Re-Positioning as the Next Step
The presence of short-term selling pressure suggests a correction phase is underway. If this adjustment deepens into a more comprehensive market restructuring, buying pressure will eventually be reflected more strongly in prices.

3. Market Structure Transition Toward Balance
Ethereum appears to be shifting from a long-term seller-dominated environment toward a more balanced, potentially constructive market structure. This transformation indicates a fundamental reorganization of market psychology and participant behavior, beyond mere price fluctuations.

Currently, the extent to which buying pressure influences actual price formation will be the most critical factor in determining Ethereum’s next major trend development.