How is IBIT stock faring? The iShares Bitcoin Trust (IBIT) was feeling more positive today. It is now up 1.66% 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 up 3.18% at $62.392. The main driver was the price of Bitcoin, which increased 1.32% to $109,726.22.
It came despite Bitcoin heading for its worst October performance since 2018 amid heightened market volatility and as investors’ risk appetite turned squeamish. That’s down to a move away from risk assets, a recovery in the U.S. dollar and the Fed cutting interest rates this week.
However, this did not deter Moon Inc. announcing a further acquisition of approximately 6.12 units of Bitcoin for around HK$5,242,000, funded by the company’s cash reserves. International Business Settlement Holdings Limited has also announced a strategic plan to acquire additional Bitcoins, with a potential investment of up to HK$200 million, as part of its treasury management strategy.
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