The iShares Bitcoin Trust (IBIT) was back on fine form on Tuesday. It is now up 6.50% over the past 5 days but down 8.58% 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 830,412 investors in the recent quarter, it has scored a below sector-average negative sentiment. Those investors aged under 35 have been the most active buyers.
In total, 1.9% of all portfolios hold IBIT.
Today’s IBIT Performance
Today, the IBIT was up 7.67% at $52.22. The main driver was the price of Bitcoin, which rose 6.6% to $92,015.
It was boosted by asset management giant Vanguard declaring that its clients will now be allowed to have access to digital asset ETFs. Bank of America (BAC) has also given the okay for its wealth managers to recommend a 1%-4% allocation to the spot bitcoin ETFs.
However, Bitcoin remains more than 30% below its all-time high of about $126,000.
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