The iShares Bitcoin Trust ETF (IBIT) started the week badly. It is now down 10.15% over the last 5 days and off 4.35% in the year-to-date.
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According to technical analysis, the IBIT has a Sell consensus based on 14 Bearish, 2 Neutral and 6 Bullish ratings.
Based on the activity of 851,964 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 5.91% at $44.69. The price of Bitcoin was down 2.29% at $78,654.
The main drag on sentiment continues to be reduced expectations of interest rate cuts as well as a general risk-off approach given economic and political uncertainty.