Data: Ethereum Fusaka upgrade trading ratio hits a 4-month high

According to Cryptoquant data, Binance's Ethereum Taker buy-sell ratio indicates a clear shift in market sentiment. This metric surged to 0.998 immediately after the Fusaka network upgrade on December 3, reaching its highest level since early August, showing that buyers are actively entering the market.

The ratio rebounded strongly from a low of 0.945, suggesting that futures traders view the Fusaka upgrade as a bullish catalyst and are actively building long positions. Although the ETH price still hovers around $3130, the speed of the rise in the buy-sell ratio has outpaced the price itself, forming a leading indicator.

Analysts point out that if the ratio breaks above the 1.0 level, it will confirm the end of the November correction and may drive prices toward targets of $3500 and $4000. The positive market response brought about by the Fusaka upgrade reflects increased investor confidence in the improvements to the Ethereum network.