How is IBIT stock faring? The iShares Bitcoin Trust (IBIT) had a tough time today. It is now down 11.94% over the past 5 days and is 14.10% higher in the year-to-date.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
According to TipRanks technical analysis, the IBIT is now at a Strong Sell consensus based on 12 Bearish, 4 Neutral and 6 Bullish ratings.
Based on the activity of 826,191 investors in the recent quarter, it has scored 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 down 5.01% at $57.50. The main drag was the price of Bitcoin, which decreased 4.99% to $101,144.
It continued to be hit by investor concerns over the U.S. government shutdown and slowing economic growth. Bitcoin is down roughly 20% from its all-time high north of $126,000 touched in early October.
Fundstrat head of digital assets Sean Farrell pointed out to Reuters that “whale selling,” or investors with large holdings, had risen over the past few weeks, paving the way for weakness in the market.
Net sales from long-term holders have exceeded 1 million bitcoin since the end of June as wealth shifts to new owners, according to Compass Point analyst Ed Engel.
Power up your ETF investing with TipRanks. Discover the Top Equity ETFs with High Upside Potential, carefully curated based on TipRanks’ analysis.