How is IBIT stock faring? The iShares Bitcoin Trust (IBIT) had another difficult day. It is now down 11.31% over the past 5 days but remains 20.47% higher in the year-to-date.
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According to TipRanks technical analysis, the IBIT has swung to a Sell consensus based on 11 Bearish, 5 Neutral and 6 Bullish ratings.
Based on the activity of 823,066 investors in the recent quarter, it has scored above-sector-average positive sentiment. Those investors aged over 55 have been the most active.
Today’s Performance
Today the IBIT dropped 2% in mid-trading to $62.64. The main driver was the price of Bitcoin, which plunged 2.25% to $110,513.52. There is still a huge amount of investor caution over the state of the U.S. economy, particularly the impact of President Trump’s new tariffs strategy.
Adding to concerns was the news today that the U.S. Department of Justice has seized $15 billion worth of Bitcoin held in cryptocurrency wallets owned by a man who oversaw a global “pig butchering” operation.
The fraud was run out of Cambodia and the Bitcoin seizure is the largest asset forfeiture by the American Department of Justice in its history.
More positively, veteran trader Peter Brandt was quoted by Coin Telegraph as stating that Bitcoin could reclaim its all-time high of $125,100 in the coming week, but not without one more major correction.
Roll on tomorrow!
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