Yesterday’s erroneous report that the SEC had approved the IShares Spot Bitcoin ETF sent bitcoin to over $30,000 in the space of an hour, before crashing back down again.
Market reacts
We now know the type of behaviour the market will exhibit if and when a Spot Bitcoin ETF is approved in what might hopefully be the near future. A more than $2,000 surge that was only stopped by denials that the event had happened. Who knows how far that pump could have gone had the news been true?
Of course, this sort of price action is only hype and speculation, and will possibly have raised some eyebrows among institutions that are looking into the cryptocurrency space. This sort of manipulative behaviour must certainly be frowned upon.
Bitcoin holding above 200-week moving average
Be that as it may, Monday’s glorious surge definitely breathed some life into a reasonable stagnant crypto market. Bitcoin is still above the 200-week moving average, which in the grand scheme of things is an absolute
We współpracy z: https://cryptodaily.co.uk/2023/10/bitcoin-fake-news-causes-god-candle-before-crashing-back-to-earth
