"BITB provides straightforward Bitcoin exposure through a wrapper designed for traditional brokerage accounts. The fund holds Bitcoin directly and tracks its price movements without leverage or derivatives complexity. With a 0.20% expense ratio and $3.6 billion in assets under management, BITB represents a cost-effective entry point for investors who want cryptocurrency allocation without managing private keys, hardware wallets, or exchange accounts."
"Bitcoin needs just 14.5% from current levels to reach $100,000. Technical indicators suggest selling pressure may have exhausted itself after the November capitulation that drove Bitcoin's RSI to deeply oversold territory at 26.56. The current RSI reading of 43 indicates neither overbought nor oversold conditions, potentially setting up for a technical bounce. Prediction markets tell a different story. Two Polymarket contracts betting on Bitcoin reaching $100,000 in December 2024 both resolved "No" after attracting $17 million in combined volume."
BITB delivers direct Bitcoin exposure by holding Bitcoin and tracking its price without leverage or derivatives, enabling access via traditional brokerage accounts. The fund charges a 0.20% expense ratio and manages $3.6 billion, removing the need for private keys, hardware wallets, or exchange accounts. BITB performance strictly follows Bitcoin price movements, so shareholders participated in the early-November peak near $107,482 and absorbed a roughly 19% decline to current levels, producing a 6.5% year-to-date loss. Technical indicators show RSI moved from deeply oversold at 26.56 to 43, suggesting neutral momentum and potential for a bounce, while prediction markets have frequently misread near-term outcomes.
Read at 24/7 Wall St.
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