Bitcoin price experienced a significant and volatile movement in response to fake news about the approval of the BlackRock iShares spot Bitcoin ETF. The false reports spread rapidly on social media, particularly on Elon Musk’s X platform. Within a span of ten minutes, BTCUSD surged by over 7%, reaching almost $2,000. However, once the news was debunked, the cryptocurrency retraced the entire rally and even fell below $28,000. Fox Business journalist Eleanor Terrett confirmed with a BlackRock representative that the iShares application is still under review by the United States SEC. The incident highlights the market’s eagerness for a spot ETF approval and the potential dangers of approving such ETFs when cryptocurrency prices can be easily manipulated through the media. Despite the excitement, it is important to note that the news has been proven false.
#Bitcoin #cryptocurrency #BTCUSD #BlackRock #iShares #ETF #SEC #ElonMusk
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