The iShares Bitcoin Trust ETF (IBIT) had a good start to the week. It is now up 0.29% over the last 5 days and down 5.92% in the year-to-date.
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According to IBIT’s technical analysis, it has a Sell consensus based on 12 Bearish, 5 Neutral and 5 Bullish ratings.
Based on the activity of 833,192 investors in the recent quarter, the IBIT has a below-sector-average Negative investor sentiment. Overall 1.8% of all portfolios hold the IBIT.
Today’s IBIT Performance
Today, the IBIT was up 1.5% at $50.66. The main driver was the price of Bitcoin, which climbed 0.86% to $89,398.81.
Analysts said Bitcoin was hoping for a Santa rally as hopes grew that the Federal Reserve would cut interest rates again next month. Lower interest rates tend to be bullish for Bitcoin.
According to DL News it was also helped by Japanese advertising firm Eole snapping up $1 million in Bitcoin off the back of fashion firm ANAP Holdings buying $1.6 million earlier in December.
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