Data Reveals Return of Ethereum Purchasing Activity as $2K Level Holds Strong
Ether maintains stability beyond the $2,000 threshold while derivative markets indicate buyer control and exchange-traded funds record positive flows.
According to market experts, Ether (ETH) may be positioned for a potential "regime shift" as purchasing momentum accumulates, though maintaining the $2,000 level remains critical for bulls.
Key takeaways:
- Ether demonstrates strength beyond the $2,000 mark, with blockchain data revealing indicators of renewed purchasing interest, pointing toward a potential "regime shift".
- Price support in the $1,800-$2,000 range must remain intact for bulls to achieve a favorable trend reversal.
Ethereum purchasers are "prevailing"
The net taker volume for Ether indicates the "formation of a stronger bottom" as interest in ETH derivative instruments has made a comeback, according to information from CryptoQuant.
This metric, which tracks the disparity between aggressive purchasing and selling activity in derivative trading venues, has maintained positive territory since March 6.
The visualization below demonstrates that although net taker volume remained in negative territory throughout most of the period beginning in 2023, it has now turned positive, climbing to a peak of $140 million on March 16.
At present, the metric indicates that "buying pressure is prevailing, with $104 million," according to CryptoQuant analyst Darkfost in a Tuesday X post.
"This is the first time since the previous bear market that we are witnessing such a regime shift in Ethereum derivatives," stated the analyst, who further elaborated:
"If this dynamic persists and the spot market and ETFs begin to support the move, Ethereum could potentially restart a positive trend."
The open interest in futures contracts (OI), representing the aggregate number of active futures positions that remain unsettled or open, provides additional confirmation of this trend.
This indicator currently registers at 6.4 million ETH, approaching its historical peak of 7.8 million ETH that was achieved in July 2025.
"After falling to 5 million ETH in October, open interest has gradually recovered," Darkfost noted in a Sunday X post, further stating:
"Derivatives markets on Ethereum remain highly active."
Concurrently, capital movements for spot Ether ETF products have shifted into positive territory, with these financial instruments registering $120 million in net inflows on Monday, representing the strongest performance since mid-March.
This development signaled a resurgence of purchasing interest from United States-based investors after several consecutive days of withdrawals, which has the potential to drive ETH pricing upward.
ETH pricing must maintain position above $2000
Examining the price action, the ETH/USD trading pair maintains a cautiously optimistic outlook provided it sustains the $1,800-$2,000 support region. This zone represents the convergence point of the 20-day exponential moving average (EMA) and the lower boundary of a symmetrical triangle formation.
"As long as the $2,000 support zone holds, Ethereum could have another upside move," noted analyst Ted Pillows in a Tuesday X post, who added:
"Losing the $2,000 level means a new yearly low could happen soon."
The critical nature of this support threshold is further validated by examining the cost basis distribution data. The visualization below reveals that more than 3.5 million ETH were purchased at approximately $2,000.
Beneath this threshold, the subsequent defensive position exists within the $1,750-$1,800 demand area, where market participants accumulated 1.36 million ETH.
Should the ETH price breach this lower level, it would likely enter a rapid decline toward the calculated objective of the symmetrical triangle pattern at $1,460, representing a potential 30% decrease from current valuation.
According to previous Cointelegraph analysis, successfully defending the $1,800-$2,000 zone would demonstrate bull market strength, though bulls must drive the ETH/USD pair beyond the $2,400 range maximum to reclaim market dominance.