How is IBIT stock faring? The iShares Bitcoin Trust (IBIT) is up 0.97% over the past 5 days and has gained 29.58% in the year-to-date.
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According to TipRanks technical analysis, the IBIT has a Strong Buy consensus based on 3 Bearish, 5 Neutral and 14 Bullish ratings.
Based on the activity of 822,356 investors in the recent quarter, it has scored above-sector-average very positive sentiment. Those investors aged over 55 have been the most active.
Today, however, the IBIT dropped nearly 3% in mid-trading to $66.76. One of the main drags was fear over Bitcoin’s correlation with semiconductor giant Nvidia (NVDA).
Nvidia’s share price has surged nearly 40% year-to-date to $187.68, while Bitcoin has gained 35.25%, trading above $126,000 earlier this week.
The close alignment suggests traders may be viewing Bitcoin as a high-beta tech play rather than a distinct digital asset. Some analysts warn that this growing correlation could leave Bitcoin vulnerable to a major correction if the AI boom slows down.
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