Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Bitcoin surged from $27,900 to $30,000 after a false report of a spot ETF approval was posted on social app X, formerly Twitter, leading to nearly $100 million in liquidations in the past hour.was deleted after nearly 30 minutes but sparked enough interactions to impact prices significantly. Bitcoin has since fallen from $30,000 to $28,000 following skepticism from analysts and reporters. BlackRock confirmed to CoinDesk that the report is false.
The SEC website shows no approvals for a spot bitcoin ETF. Bloomberg also reported that the BlackRock application is still under review., which is thought to boost the chances of GBTC eventually being converted to a spot ETF. Bitcoin rose 4% in Asian morning hours on Monday, a continuation of Friday’s reaction to the U.S. Securities and Exchange Commission decision to not appeal to a recent Grayscale ruling.
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