IBIT ETF Stays Under Pressure as Put-Call Skew Signals Continued Bearish Sentiment
BlackRock’s Nasdaq-listed spot Bitcoin ETF, IBIT, has shown sustained bearish indicators for two consecutive months, underscoring cautious sentiment among investors.
Data from Market Chameleon shows that IBIT’s one-year put-call skew turned positive on July 25 and has remained above zero since, signaling that traders continue to favor protective puts over bullish calls. This prolonged bias suggests a persistent risk-averse outlook, even as Bitcoin trades near $113,600.
Historically, a similar period of put dominance occurred from March 8 to April 21, coinciding with declines in both Bitcoin and IBIT during broader market turbulence.
Price Momentum Stalls
IBIT’s price trend has stalled since July, repeatedly unable to surpass the $70 mark. The ETF recently formed a “lower high” at $66, reflecting weakening buying pressure and growing influence from sellers. Technical analysts note that such patterns often indicate potential downtrends or continued bearish momentum.
Overall, while the broader crypto market shows signs of resilience, IBIT remains constrained by cautious investor sentiment and technical resistance levels.
