How is IBIT stock faring? The iShares Bitcoin Trust (IBIT) is down 9.58% over the past 5 days but has gained 24.05% in the year-to-date.
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According to TipRanks technical analysis, the IBIT has a Neutral consensus based on 8 Bearish, 5 Neutral and 9 Bullish ratings.
Based on the activity of 822,855 investors in the recent quarter, it has scored above-sector-average very positive sentiment. Those investors aged over 55 have been the most active.
Today’s Performance
Today the IBIT dropped nearly 3% in mid-trading to $64.03. The Bitcoin price has suffered this week as fears over President Trump’s new Chinese tariffs have dented confidence in crypto, as well as stocks. This has shown that Bitcoin is not like gold in that it offers a safe haven to investors in troubled times.
However, it wasn’t all bad news for Bitcoin. Pro-Bitcoin Senator Cynthia Lummis agreed with the thoughts of Tesla (TSLA) boss Elon Musk by stating that Bitcoin could be a counterweight to inflation and government overspending. She said: “Add this to the reasons why a Strategic Bitcoin Reserve is the wisest thing we can do to shore up USD.”
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