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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Price Surges 7% In 10 Minutes On Fake iShares ETF News

Alizeh Ilyas
Alizeh Ilyas
8 months ago
2 mins read
bitcoin price ishares etf fake news

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Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin price just made one of its most volatile moves in some time on the back of what has amounted to be fake news regarding the approval of the BlackRock iShares spot BTC ETF.

Within seconds of a fake X post, BTCUSD surged by over 7% in ten minutes – only to retrace the entire rally and then some.

Bitcoin Price Rejected As iShares ETF News Revealed To Be False

No, BlackRock’s iShares spot Bitcoin ETF has not been approved. But that’s what was just making waves around social media, especially Elon Musk’s X platform.

Within the ten minutes following the phony report from CoinTelegraph, BTCUSD soared by more than 7%  and almost $2,000. The top cryptocurrency by market cap, however, was stopped at $30,000 and rejected all the way back down to below $28,000 in the following fifteen minutes once the news was disproven.

Related Reading

bitcoin target

Bitcoin Bulls Could Buck Downtrend With Move To $42,000

1 year ago

Fox Business journalist Eleanor Terrett claims to have spoken to a representative for BlackRock directly, who confirmed that the iShares application is still under review with the United States SEC. CoinTelegraph has since deleted the tweet (pictured below).

BTCUSD_2023-10-16_10-04-47

A massive 25 minute pump and dump | BTCUSD on TradingView.com

The situation shows that the market has serious pent up energy that is ready to release the moment a spot ETF is approved. But it also could demonstrate to the SEC exactly why a spot ETF shouldn’t be approved when crypto prices are subject to such blatant manipulation through the media.

Related Reading

Ichimoku Cloud

4 years ago

While a spot ETF is inevitable at this point, today’s news has now repeatedly been confirmed to be false.

Tony is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from TradingView.com
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Alizeh Ilyas
Alizeh Ilyas

Alizeh Ilyas

With over 3 years of crypto writing experience, Alizeh Ilyas have a deep understanding of cryptocurrencies, blockchain, Fintech, web3, crypto market analysis, predictions, and more. Her passion for innovation shines through her work. Keeping a keen eye on the future of digital finance, she bridges gaps between technology and readers.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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