The bid-ask ratio in futures, a key indicator of market sentiment, indicates whether buyers or sellers are active. Following Ethereum’s recovery near the $3K support, this indicator has risen significantly, indicating an increase in market buy orders.

This trend indicates that market participants are optimistic about the near-term price of Ethereum, expecting a rise to the $4K resistance.

A ratio above 1 indicates a buyer advantage, which often indicates the beginning of a bullish trend. Current data underscores this change in sentiment, reflecting growing trader confidence and expectations for further growth.