How is IBIT stock faring? The iShares Bitcoin Trust (IBIT) suffered again today. It is now down 6.23% over the past 5 days and is 9.99% higher in the year-to-date.
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According to TipRanks’ technical analysis, the IBIT is now at a Strong Sell consensus based on 14 Bearish, 5 Neutral and 3 Bullish ratings.
Based on the activity of 827,514 investors in the recent quarter, it has scored sector-average neutral sentiment. Those investors aged between 35 and 55 have been the most active buyers.
In total, 1.9% of all portfolios hold IBIT.
Today’s IBIT Performance
Today, the IBIT was down 1.54% at $57.45. The main drag was the price of Bitcoin, which dropped 1.68% to $101,288.42.
It’s mainly down to investors unsure whether to buy or sell Bitcoin in the current political environment as the U.S. government shutdown starts to ease or the fragile economic environment. Analysts believe some are sitting on the fence waiting on more certainty around Federal Reserve rate cuts next month.
According to the Wall Street Journal, the central bank is facing an internal divide, with policymakers split over whether the greater risk now is persistent inflation or a softening labor market. That division has left a rate cut now being little more than a “toss up.”
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