BlackRock’s Bitcoin ETF: Bearish Sentiment in IBIT Stays Strong for Two Straight Months

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Key metric tied to BlackRock's Nasdaq-listed spot bitcoin (BTC) exchange-traded fund, IBIT, has been flashing informing signs for 2 consecutive months.

IBIT's one-year put-call skew, a measurement of marketplace sentiment oregon pessimism, flipped affirmative connected July 25 and has remained comfortably supra zero since then, according to information root Market Chameleon. That's 2 consecutive months of bearish enactment bias.

In different words, traders person consistently favored protective puts implicit bullish calls for 2 months, signaling a sustained cautious oregon risk-averse outlook.

A akin enactment enactment bias was observed from March 8 to April 21 this year, a play marked by crisp declines successful some the spot terms and IBIT, chiefly driven by the commercialized war-induced weakness connected Wall Street.

IBIT's uptrend has stalled

IBIT’s terms inclination has stalled since July, failing aggregate times to emergence supra the $70 level. Recently, it formed a "lower high" astatine $66, meaning the caller highest terms was little than the erstwhile precocious adjacent $70.

This signifier signals weakening buying unit and suggests that sellers are gaining strength. The enactment of little highs often indicates a imaginable downtrend oregon bearish momentum.