The iShares Bitcoin Trust (IBIT) started the week on a low today. It is now down 12.53% over the past 5 days and is only 0.81% higher in the year-to-date.
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According to TipRanks’ technical analysis, the IBIT is now at a Sell consensus based on 14 Bearish, 3 Neutral and 5 Bullish ratings.
Based on the activity of 828,402 investors in the recent quarter, it has scored a 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 1.95% at $52.41 in late trading. The main drag was the price of Bitcoin, which dropped 1.89% to $92,400.21.
Investors were still risk-averse given fears over the state of the global economy and the solidity of tech stocks.
However, Strategy (MSTR) bucked the trend. It leaned straight into the market selloff last week and put another $835.6 million into Bitcoin, its most aggressive buying spree in four months. The company disclosed the purchase today, confirming it added enough BTC to bring its total stash to 649,870 tokens worth about $61.7 billion.