ETF Week Ends in Uncertainty: Direction Still Up in the Air

A record-breaking week for ETFs has come to an end, but its impact on the market is still unclear. The cash market remains below the floor of its 2025 range, indicating a lack of direction.

Funding turned negative, and the options book reset, which could be a sign that investors are adjusting their positions. Bitcoin's correlation with the ten-year Treasury note hit its most negative reading for the year, suggesting a potential divergence between the two assets.

However, Aleksandar Bukovski, Lead Analyst at The Big Whale, notes that none of these developments confirm a direction for the market. This lack of clarity is likely to continue until more concrete trends emerge.