The iShares Bitcoin Trust ETF (IBIT) had a positive day. It is now down 1.76% over the last 5 days and off by 6.92% in the year-to-date.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
According to technical analysis, the IBIT has a Strong Sell consensus based on 14 Bearish, 6 Neutral and 2 Bullish ratings.
Based on the activity of 834,043 investors in the recent quarter, the IBIT has below-sector-average Neutral investor sentiment. Overall, 1.8% of all portfolios hold the IBIT.
Today’s IBIT Performance
Today, the IBIT was up 1.48% at $50.11. The Bitcoin price rose 1.35% to $88,289.86.
Many Bitcoin investors were treading water today ahead of the release of the Federal Open Market Committee minutes. This will reveal additional detail on the most recent Federal Reserve interest rate decision and perhaps give greater guidance over the future direction. This could increase expectations around another series of cuts next month.
Lower interest rates tend to be good for Bitcoin.
Power up your ETF investing with TipRanks. Discover the Best AI ETFs, carefully curated based on TipRanks’ analysis.