How is IBIT stock faring? The iShares Bitcoin Trust (IBIT) had another tough period today. It is now down 1.73% over the past 5 days, and is 18.28% higher in the year-to-date.
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According to TipRanks technical analysis, the IBIT is now at a Strong Sell consensus based on 11 Bearish, 5 Neutral and 6 Bullish ratings.
Based on the activity of 825,627 investors in the recent quarter, it has scored above-sector-average very positive sentiment. Those investors aged between 35 and 55 have been the most active buyers.
In total, 1.9% of all portfolios hold IBIT.
Today’s IBIT Performance
Today, the IBIT was down 3.76% at $60.39. The main drag was the price of bitcoin, which decreased 3.38% to $106,396.00.
Bitcoin was battered by reaction to the Federal Reserve rate cut yesterday. The Fed Chair, Jerome Powell, cautioned that another cut in December isn’t guaranteed, citing persistent inflation and limited data visibility due to the ongoing government shutdown. This knocked confidence throughout the financial market including Bitcoin investors.
President Trump’s optimistic comments on a trade deal with China also made crypto holders “sell the news” today.
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