Bearish Outlook Persists in IBIT Amid BlackRock Bitcoin ETF Momentum

BlackRock’s IBIT Shows Sustained Bearish Sentiment Amid Stalled Price Action

IBIT, the Nasdaq-listed spot Bitcoin ETF tied to BlackRock, has shown persistent caution in the market for two consecutive months.

The ETF’s one-year put-call skew, a measure of trader sentiment, turned positive on July 25 and has remained above zero since, according to Market Chameleon. This indicates a steady preference for protective puts over bullish calls, signaling a cautious or risk-averse outlook among investors.

A comparable put bias occurred earlier this year, from March 8 to April 21, coinciding with sharp drops in both IBIT and Bitcoin as trade-war pressures weighed on broader markets.

Price Momentum Remains Weak

Since July, IBIT’s price has struggled to move past the $70 mark. The ETF recently formed a lower high at $66, reflecting weakening buying pressure and growing seller dominance. Technical analysts note that such patterns often suggest the potential for further downside or a continued bearish trend.

As market participants weigh risk, the coming weeks will reveal whether IBIT can reclaim upward momentum or remain in its current cautious phase.