How is IBIT Stock Performing?
The iShares Bitcoin Trust (IBIT) showed a rebound today, but it's still down 9.34% over the past 5 days. Year-to-date, it has gained 7.79%.
Technical Analysis Insights
According to TipRanks technical analysis, IBIT currently holds a Strong Sell consensus. This is based on 14 Bearish, 3 Neutral, and only 5 Bullish ratings.
Investor Sentiment and Holdings
Based on activity from 826,386 investors in the recent quarter, IBIT has scored above-sector-average positive sentiment. The most active buyers are investors aged between 35 and 55. In total, 1.9% of all portfolios hold IBIT.
Today's IBIT Performance
Today, IBIT was up 3.57%, closing at $59.23. This increase was primarily driven by Bitcoin's price, which rose 2.90% to $104,412.77.
Key Market Drivers
- Metaplanet's Bitcoin Purchases: Japanese Bitcoin treasury Metaplanet is buying more Bitcoin after securing a $100 million loan using its crypto as collateral. However, they are adjusting their strategy to account for Bitcoin's price volatility.
- Galaxy's Revised Forecast: Institutional crypto firm Galaxy has slashed its end-of-year Bitcoin target from $185,000 to $120,000. As reported by Reuters, Galaxy stated that Bitcoin has entered a new 'maturity era', where institutional absorption, passive flows, and lower volatility will dominate.
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