Fake ETFs, Reddit Axes ETH, and BTC Buffet
The post Fake ETFs, Reddit Axes ETH, and BTC Buffet appeared on BitcoinEthereumNews.com. Crypto news: Last week in the crypto world was a rollercoaster ride, featuring a flurry of rumors, retractions, and a significant market shakeup. The week was dominated by news of a potential BlackRock iShares Bitcoin spot Exchange Traded Funds (ETF) approval, which sent the price of Bitcoin (BTC) on a wild ride. In what may be a sign of things to come, Bitcoin rallied on rumors of a fake Bitcoin ETF approval, only to fall sharply after its would-be issuer, BlackRock, refuted the story. Italian carmaker Ferrari launched a new Bitcoin payment method, even as Warren Buffett feasts on handsome returns from a crypto-related investment. BlackRock Calms Fake News Bitcoin Frenzy BlackRock, the asset management giant behind the iShares Bitcoin spot ETF, quickly stepped in to rebuff rumors the US Securities and Exchange Commission had approved its application. In a statement to finance journalist Eleanor Terrett, the company confirmed that the news was false. This news sent the crypto markets into a tailspin. The Bitcoin price, which had nearly touched $30,000 on the back of the rumors, started retracing towards the $28,000 level. The volatility triggered by the rumors led to trades worth over $105.28 million being liquidated in just one hour. Specifically, $32.03 million in longs and $73.25 million worth of short trades were liquidated. Adding to the confusion was Cointelegraph, the crypto publication that broke the fake ETF story, only to issue an apology and retraction later. The outlet published a mea culpa on X (Twitter): “We apologize for a tweet that led to the dissemination of inaccurate information regarding the BlackRock Bitcoin ETF. An internal investigation is currently underway. We are committed to transparency and will share the findings of the investigation with the public once it is concluded.” Crypto – Socially Speaking Global social metrics courtesy…
The post Fake ETFs, Reddit Axes ETH, and BTC Buffet appeared on BitcoinEthereumNews.com.
Crypto news: Last week in the crypto world was a rollercoaster ride, featuring a flurry of rumors, retractions, and a significant market shakeup. The week was dominated by news of a potential BlackRock iShares Bitcoin spot Exchange Traded Funds (ETF) approval, which sent the price of Bitcoin (BTC) on a wild ride. In what may be a sign of things to come, Bitcoin rallied on rumors of a fake Bitcoin ETF approval, only to fall sharply after its would-be issuer, BlackRock, refuted the story. Italian carmaker Ferrari launched a new Bitcoin payment method, even as Warren Buffett feasts on handsome returns from a crypto-related investment. BlackRock Calms Fake News Bitcoin Frenzy BlackRock, the asset management giant behind the iShares Bitcoin spot ETF, quickly stepped in to rebuff rumors the US Securities and Exchange Commission had approved its application. In a statement to finance journalist Eleanor Terrett, the company confirmed that the news was false. This news sent the crypto markets into a tailspin. The Bitcoin price, which had nearly touched $30,000 on the back of the rumors, started retracing towards the $28,000 level. The volatility triggered by the rumors led to trades worth over $105.28 million being liquidated in just one hour. Specifically, $32.03 million in longs and $73.25 million worth of short trades were liquidated. Adding to the confusion was Cointelegraph, the crypto publication that broke the fake ETF story, only to issue an apology and retraction later. The outlet published a mea culpa on X (Twitter): “We apologize for a tweet that led to the dissemination of inaccurate information regarding the BlackRock Bitcoin ETF. An internal investigation is currently underway. We are committed to transparency and will share the findings of the investigation with the public once it is concluded.” Crypto – Socially Speaking Global social metrics courtesy…
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