Ethereum price may have experienced a slight recovery late last week. However, the popular altcoin still reflects a broader bearish structure. Interestingly, a recent on-chain evaluation surfaced. This paints a bleak picture for Ethereum’s mid-term future, as opposed to the sustained relief that was envisioned.
Taker buy-sell ratio plummets to November 2025 low
In a recent post on QuickTake, market analyst CryptoOnchain revealed that Ethereum derivatives traders are currently dominated by active sellers, as evidenced by Binance’s Ethereum:Taker buy-sell ratio smoothed by a 30-day moving average.
For context, this indicator measures whether active market buyers and active sellers are dominating the ETH futures market, specifically Binance (the world’s leading crypto exchange by trading volume). If the taker buy sell ratio is below the threshold of 1.00, it indicates that the taker sell volume is greater than the taker buy volume.
Basically, this means there are more active sellers than buyers. On the other hand, a sustained value above 1.00 indicates that the futures market is currently dominated by aggressive buyers.
CryptoOnchain noted in its post that the indicator’s reading is currently sitting around the 0.97 level, indicating that Ethereum’s current price action is being driven further by active selling pressure. Interestingly, the 0.97 zone is the lowest since November 2025. CryptoOnchain explains that this is not a temporary reaction to price fluctuations, but reveals a significant shift in sentiment among Ethereum futures traders over the past month.
Meaning of ETH price
A drop in the taker-buy-sell ratio to 0.97 does not guarantee an immediate sale. More precisely, it shows that bears are likely to profit from Ethereum in the short term. If this bearish pressure is absorbed by spot demand, there will be no selling. On the other hand, if demand at the primary support level is not met; If Ethereum cushions the decline, the second-largest cryptocurrency could fall further.
Additionally, when there is a sudden injection of demand, the futures market maintains very bearish sentiment at the same time. The Ethereum market could experience a short squeeze where leveraged short positions are wiped out, which could send the price spiraling higher.
Therefore, the Ethereum market is still in a very volatile stage as the price can move with high momentum in either direction depending on what happens first. Therefore, market participants are advised to view charts with caution. As of this writing, Ethereum is valued at $2,085, reflecting a modest 1.7% increase from the previous day, according to data from CoinMarketCap.
Featured image from Flickr, chart from Tradingview
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