Published on September 05, 2023 12:00 GMT+00:00edited on September 05, 2023 12:04 GMT+00:00

The Ethereum (ETH) market has been gripped by escalating bearish sentiment as the taker buy-sell ratio, a critical indicator of market dynamics, plunged to a yearly low. This downward trajectory has sparked concerns among investors and traders, highlighting the prevailing pessimism in the Ethereum futures market.

ETH’s taker buy-sell ratio, as revealed by a recent report from the anonymous CryptoQuant analyst Greatest_Trader, has been on a consistent decline over the past few months. The ratio reached its nadir at the end of the previous month, signaling a growing dominance of bears in Ethereum’s trading arena.

Greatest_Trader said:

“This consistent behavior underscores the dominant bearish sentiment among futures traders participating in Ethereum’s market.”

The dwindling taker …