The iShares Bitcoin Trust ETF (IBIT) started the week poorly. It is now down 3.28% over the last 5 days and up 2.11% in the year-to-date.
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According to technical analysis, the IBIT has a Strong Sell consensus based on 14 Bearish, 5 Neutral and 3 Bullish ratings.
Based on the activity of 850,926 investors in the recent quarter, the IBIT has below-sector-average Neutral investment sentiment. Overall, 1.7% of all portfolios hold IBIT.
Today’s IBIT Performance
Today, the IBIT was down 1.86% at $49.76. The price of Bitcoin, however, was up 1.49% at $87,851.
Investors put most of their cash into gold and stocks today hitting Bitcoin ETF inflows. Fears over a potential trade war between the U.S. and Canada and other geopolitical uncertainties led to risk-off investing.
However, Strategy (MSTR) remains a fan. It disclosed that it purchased 2,932 Bitcoin for approximately $264.1 million at an average price of $90,061 per bitcoin between January 20 and 25.