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\n\t\t\t\t\t\t\t\t\tAnalysts say a break above 1.0 in the buy\/sell ratio could launch Ethereum toward the $3,500 to $4,000 level.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Ethereum (ETH) traders snapped back into action this week as buyer aggression climbed to its strongest reading since early August, according to the latest Binance futures data.<\/p>\n
The move follows the Fusaka network upgrade, activated on December 3, which appears to have shifted mood across derivatives and on-chain metrics almost immediately.<\/p>\n
According to pseudonymous analyst CryptoOnchain, the Taker Buy\/Sell Ratio for ETH futures on Binance jumped<\/a> to 0.998, marking the metric\u2019s highest level since early August and representing a sharp reversal from recent lows around 0.945.<\/p>\n \u201cThis rebound from the lows (0.945) shows that futures traders view the Fusaka update as a bullish catalyst and are actively accumulating long positions,\u201d stated the analyst. \u201cAlthough the price is still hovering around $3,130, the acceleration of this ratio has outpaced the price itself, acting as a leading indicator.\u201d<\/p>\n<\/blockquote>\n They also noted that a break above the 1.0 level would strongly suggest the recent corrective period has ended, and kickstart a run \u201ctoward the $3,500 to $4,000 targets.\u201d<\/p>\n Spot market data also seems to support the shift. As noted by Arab Chain, the Cumulative Volume Delta (CVD), which tracks net buying and selling pressure, has shown<\/a> positive movements with Ethereum trying to stabilize above $3,100. This, according to the firm, points to new liquidity entering the market.<\/p>\n Furthermore, so-called shark wallets, holding between 1,000 and 10,000 ETH, have been key drivers, with their accumulation helping push<\/a> the price to a three-week peak of $3,230 yesterday.<\/p>\n The upgrade<\/a> was preceded by a record-setting spike in network activity on November 26, when total gas used hit 215 billion, indicating heavy pre-upgrade positioning by users and developers.<\/p>\n While futures traders and large holders are showing renewed interest, there still exists a significant divergence in institutional demand. Data from Bitwise revealed a steep drop in purchases by public Digital Asset Treasuries (DATs).<\/p>\n Their monthly accumulation fell<\/a> 81% from August to November 2025, dropping to 370,000 ETH last month. Observers have linked this dip to challenging market conditions that have reduced the buying power of these corporate entities.<\/p>\n However, some prominent commentators are staying optimistic regarding the long-term path of the world\u2019s second-largest cryptocurrency despite this institutional cooling.<\/p>\n One of them, Fundstrat\u2019s Tom Lee, while at the Binance Blockchain Week in Dubai, forecasted<\/a> a potential rise to $20,000 for ETH by 2026, tied to an expected boom in real-world asset tokenization. This outlook suggests that fundamental utility, rather than short-term treasury flows, may dictate the next major cycle.<\/p>\n Currently, the asset is trading around $3,130, reflecting a modest 3.3% gain over the past week but remaining down about 6% for the month.<\/p>\n\n
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Institutional Divergence and Future Price Trajectory<\/h2>\n
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