How is IBIT stock faring? The iShares Bitcoin Trust (IBIT) continued its recovery today. It is now down 2.45% over the past 5 days, but remains 18.62% higher in the year-to-date.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
According to TipRanks technical analysis, the IBIT remains at a Sell consensus based on 10 Bearish, 3 Neutral and 9 Bullish ratings.
Based on the activity of 824,094 investors in the recent quarter, it has scored above-sector-average very positive sentiment. Those investors aged over 55 have been the most active buyers.
Today’s IBIT Performance
Today, the IBIT rose 1.03% in mid-trading to $63.58. The main driver was the price of Bitcoin, which increased 1.23% to $111,928.42.
According to a report in Cointelegraph analysts said the recent correction in the Bitcoin price flushed out excess leverage prompting investors to shift from chasing gains to protecting capital. A report from blockchain analytics firm Glassnode said that short-term Bitcoin holder supply has risen, signaling that “speculative capital” is taking a larger share of the market.
The price today was also helped by the sell-off in gold as investors began to feel more optimistic about the economy and geopolitics following hopes of peace in Ukraine as well as the Middle East.
Power up your ETF investing with TipRanks. Discover the Top Equity ETFs with High Upside Potential, carefully curated based on TipRanks’ analysis.