Chaos

FOMO

Bitcoin

USDC

<p style="text-align: justify">The events that took place this afternoon have shocked the cryptocurrency world. Cointelegraph, with its information sharing, caused a small chaos in the crypto market. <a href="https://en.coin-turk.com/more-than-half-of-russians-want-to-store-their-money-in-a-central-bank-digital-currency/" data-wpel-link="internal" rel="noopener noreferrer nofollow">News</a> emerged that a spot <a href="https://en.coin-turk.com/us-investors-drive-bitcoins-surge-k33-research-reports/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> ETF might have been approved, which divided the market. The false news created a temporary price surge in Bitcoin, pushing the price to $30,000. However, an announcement by BlackRock revealed the reality of the situation, and this was one of the reasons for Bitcoin’s drop to $28,000.</p>
<p style="text-align: justify">Subsequently, this situation did not turn out well for investors driven by FOMO. Investors who rushed to buy Bitcoin during the short-term price fluctuations suffered significant losses when the truth came out.</p>
<h2 style="text-align: justify" id="bitcoin-whale-and-the-fomo-movement">Bitcoin Whale and the FOMO Movement</h2>
<p style="text-align: justify">In the shadow of the incredible incident in the market, data analysis firm Look On-Chain revealed a different situation. This situation involved a notable event with a whale address.</p>
<p style="text-align: justify">Following the fake ETF news, the whale address quickly purchased 20.5 Bitcoin (WBTC). However, as soon as the whale realized the mistake, it sold the Bitcoin, resulting in a loss of $49,000 in just 10 minutes. The whale initially spent 613,201 USDC for the purchase of 21 WBTC, but after the sale, it could only obtain 563,970 USDC.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-267053" src="https://coin-turk.com/wp-content/uploads/2023/10/bitcoin-49-000.jpg" alt="" width="692" height="231"></p>
<h2 style="text-align: justify" id="will-grayscale-etf-be-approved">Will Grayscale ETF Be Approved?</h2>
<p style="text-align: justify">In addition to all this, the <a href="https://en.coin-turk.com/the-role-of-cryptocurrencies-in-the-israel-palestine-conflict-a-perspective-from-senator-elizabeth-warren/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC</a> recently announced that it would not oppose the court decision in favor of Grayscale Investments regarding the spot Bitcoin ETF proposal. This decision by the Columbia District Court of Appeals, which overturned the SEC’s previous disapproval of the ETF, marks a significant turning point for the growing cryptocurrency industry that has been waiting for a Bitcoin ETF for over a decade.</p>
<p style="text-align: justify">This development occurred after the court concluded that the SEC’s initial rejection was not based on a solid foundation. Therefore, the desire of the crypto investor community to finally have a Bitcoin ETF may be nearing its end as legal obstacles are overcome.</p> Continue Reading: <a href="https://en.coin-turk.com/bitcoin-etf-news-causes-chaos-in-the-crypto-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoin-etf-news-causes-chaos-in-the-crypto-market/</a>

Bitcoin ETF News Causes Chaos in the Crypto Market

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