BlackRock’s IBIT ETF Signals Continued Bearish Sentiment Amid Price Stagnation
BlackRock’s Nasdaq-listed spot Bitcoin ETF, IBIT, has been showing signs of sustained caution for two consecutive months, according to market data.
The ETF’s one-year put-call skew, a key indicator of trader sentiment, turned positive on July 25 and has remained above zero since, signaling a persistent preference for protective puts over bullish calls. This indicates that investors are maintaining a risk-averse stance despite Bitcoin trading near $113,600.
A similar period of bearish put bias occurred from March 8 to April 21 earlier this year, coinciding with declines in both IBIT and Bitcoin amid broader market pressures, including trade-related concerns.
Price Momentum Weakens
IBIT’s price trend has stalled since July, repeatedly failing to surpass the $70 level. The ETF recently formed a “lower high” at $66, highlighting weakening buying pressure and strengthening seller influence. Analysts note that such patterns often suggest potential for continued downward movement or bearish momentum.
As the market monitors IBIT, investor focus remains on whether the ETF can regain upward momentum or continue its cautious trajectory.
