The iShares Bitcoin Trust ETF (IBIT) was lower again today. It is now down 6.55% over the last 5 days and is up 1.73% in the year-to-date.
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According to technical analysis, the IBIT has a Sell consensus based on 13 Bearish, 3 Neutral and 6 Bullish ratings.
Based on the activity of 851,512 investors in the recent quarter, the IBIT has a below-sector-average Negative investor sentiment. Overall, 1.7% of all portfolios hold the IBIT.
Today’s IBIT Performance
Today, the IBIT was down 5% at $47.99. The price of Bitcoin also slumped 5.27% to $84,464.
Markets taking a sharp downturn today following concerns over Microsoft’s (MSFT) disappointing earnings and the AI spending plans of other titans such as Meta Platforms (META) hit Bitcoin sentiment.
Bitcoin was also under pressure after the U.S. Federal Reserve held interest rates steady on Jan. 28.