USDC - Crypto Whale Loses $49K In 10 Minutes After Bitcoin ETF Rumor Pumps Price To $30K | Benzinga
The price of Bitcoin (CRYPTO: BTC) on Monday experienced a rapid surge, reaching as high as $30,000 on certain cryptocurrency exchanges.
What Happened: The reason behind this sudden increase in value was the circulation of erroneous reports online, claiming that the Securities and Exchange Commission (SEC) had approved BlackRock’s iShares Bitcoin ETF.
However, these reports turned out to be completely false.
A spokesperson from BlackRock Inc (NYSE:BLK) clarified the situation, stating, “The iShares Bitcoin ETP application is still under review by the SEC,” in a statement to Benzinga.
The spread of fake news regarding the SEC’s approval of the iShares Bitcoin Spot ETF has had repercussions for users in the crypto market.
Lookonchain, an on-chain data analytics firm, reported that a whale or a large-scale investor, spent 613,201 USD ...