The iShares Bitcoin Trust (IBIT) staged a comeback today. It is now down 11.91% over the past 5 days and is down 1.79% 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 828,391 investors in the recent quarter, it has scored an above sector-average positive 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 up 1.75% at $53.01 in late trading. The main driver was the price of Bitcoin, which rose 1.37% to $93,363.72.
Bitcoin briefly fell below $90,000, wiping out its gains on the year but staged a late recovery.
Victoria Scholar, Head of Investment, interactive investor said: “There’s a general sense of nervousness that has captured the market mood lately and bitcoin appears to be in the firing line. Plus with hints that the Fed might not cut rates next month, riskier non-yielding assets like bitcoin look less attractive in a higher interest rate environment.”
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