The iShares Bitcoin Trust ETF (IBIT) had another strong performance today. It is now up 4.63% over the last 5 days and 7.90% in the year-to-date.
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According to technical analysis, the IBIT has a Buy consensus based on 7 Bearish, 4 Neutral and 11 Bullish ratings.
Based on the activity of 848,151 investors in the recent quarter, the IBIT has a below-sector-average Neutral investor sentiment. Overall, 1.8% of all portfolios hold IBIT.
Today’s IBIT Performance
Today, the IBIT was up 2.50% at $54.91. The main driver was the price of Bitcoin, which climbed 1.53% to $96,845.
The revival in Bitcoin was helped by hopes of further drops in interest rates. In addition, Bitwise CIO Matt Hougan told DLNews that Bitcoin could hit new all-time highs this year based on three catalysts. One of these was the passage of the Clarity Act, which would resolve whether the Securities and Exchange Commission or Commodity Futures Trading Commission regulates crypto markets.
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