How is IBIT stock faring? The iShares Bitcoin Trust (IBIT) had another difficult day. It is now down 13.32% over the past 5 days, but remains 15.80% higher in the year-to-date.
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According to TipRanks technical analysis, the IBIT remains at a Sell consensus based on 12 Bearish, 2 Neutral and 8 Bullish ratings.
Based on the activity of 823,645 investors in the recent quarter, it has scored above-sector-average positive sentiment. Those investors aged over 55 have been the most active.
Today’s Performance
Today the IBIT dropped 1.68% in mid-trading to $60.46. The main driver was the price of Bitcoin, which plunged 1.49% to $106,361.66. There is still a huge amount of investor caution over the state of the U.S. economy, particularly the impact of President Trump’s new tariff strategy and the ongoing spat with China.
The total value of the crypto market has shrunk by over $600 billion since last Friday, data compiled by CoinGecko shows.
Not helping today was Tom Lee, the chair of BitMine Immersion Technologies (BMNR) and a long-time Bitcoin advocate, who said Ethereum could eventually flip Bitcoin’s market cap, much like how U.S. equities overtook gold following the collapse of the gold standard in 1971.
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