GBTC - Bitcoin Soars to $30000 Monday After Spot ETF Rumor Then Crashes Liquidating $81M In Positions | Benzinga
Bitcoin (CRYPTO: BTC) experienced a price surge from $27,900 to $30,000 Monday due to a misleading announcement about a spot ETF approval on the social platform X, formerly known as Twitter.
This misinformation resulted in approximately $100 million in liquidations within an hour.
The price move in the leading cryptocurrency underscores the importance of discussions at events like Benzinga's Future of Digital Assets conference on Nov. 14 in New York City.
Although the erroneous report of an ETF approval was removed after about half an hour, its brief presence was sufficient to significantly influence the cryptocurrency's price.
We apologize for a tweet that led to the dissemination of inaccurate information regarding the Blackrock Bitcoin ETF.
An internal investigation ...