JUST

Bitcoin

Spot

James

<p><strong>The bitcoin market saw a wave of $65 million in liquidations today following a brief price spike caused by<a href="https://captainaltcoin.com/fake-news-briefly-drives-bitcoin-prices-up-on-erroneous-blackrock-etf-approval-claims/" target="_blank" rel="noopener noreferrer nofollow"> inaccurate reports that BlackRock’s spot bitcoin ETF received approval</a> from the SEC.</strong></p>
<p>Bitcoin prices jumped over 5% to push above $29,000 after rumors began circulating online that the Securities and Exchange Commission had signed off on a spot bitcoin ETF from BlackRock’s iShares division. However, the excitement proved short-lived as BlackRock later confirmed they had not received any such approval from the SEC.</p>
<blockquote class="twitter-tweet">
 <p lang="en" dir="ltr">JUST IN: $65 million <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> liquidated within minutes following fake reports that BlackRock's Spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF was approved. <a href="https://t.co/Uxb6pCfhdu" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Uxb6pCfhdu</a></p>— Watcher.Guru (@WatcherGuru) <a href="https://twitter.com/WatcherGuru/status/1713921987783885072?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 16, 2023</a>
</blockquote>
<p>Bloomberg analyst James Seyffart also said there was nothing to confirm the initial reports, indicating they were fake news. The fabricated story of the ETF approval had made its way across social media and some news outlets, fueling the initial price surge.</p>
<p>Within just 10 minutes, bitcoin prices had retreated back to around $28,000 as the BlackRock denial came to light. Data from Bybt shows around $65 million in bitcoin positions faced liquidation during the volatile episode sparked by the misleading reports.</p>
<p>The incident underscores how susceptible cryptocurrency prices remain to distortions from unverified information spreading online. With the SEC continuing to delay a decision on a spot bitcoin ETF, fraudulent rumors of approvals still appear able to generate occasional price waves until debunked.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/65000000-liquidated-within-minutes-as-bitcoin-price-spike-on-fake-etf-approval-reports-proves-short-lived/">$65,000,000 Liquidated Within Minutes as Bitcoin Price Spike on Fake ETF Approval Reports Proves Short-Lived</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

$65,000,000 Liquidated Within Minutes as Bitcoin Price Spike on Fake ETF Approval Reports Proves Short-Lived

Table of Contents

CaptainAltcoin

Other articles published on Oct 16, 2023

Grayscale GBTC Discount Hits 22-Month Low Amid Optimism for U.S. SEC’s Bitcoin ETF Approval

Charles Hoskinson: Bitcoin has a governance problem

NvirWorld Launches NWS (Nvir Web3 Studio) and Showcase Game “Sugar Flavor”

Grayscale is ‘operationally ready’ to convert GBTC into ETF if SEC gives approval

Russian Business Titan Sber to Join Digital Ruble Pilot

Australia to introduce crypto regulation mandating licenses for crypto exchanges

Join our free newsletter for daily crypto updates!