What a start to the week yesterday. Pure stress, but not only for the markets, but also for me in the company. That’s why there is no news outlook this week. But apart from Fed Chairman Powell’s speech on Thursday, there is not much. But now back to yesterday.
The bitcoin price just pumped and dumped to $30k! The reason is the Fake News about the Bitcoin Spot ETF approval. But what exactly happened? Let’s take a look at it.
🔍 The Unfolding of Events
Yesterday, a headline from Cointelegraph surfaced, claiming that BlackRock’s Bitcoin Spot ETF had received approval. This news, however, was not accompanied by any source or evidence to substantiate the claim.
💥 Market Reaction
In the immediate aftermath, Bitcoin’s price surged to $30,000 USD, and over $1 billion in leverage was wiped from the market. The rapid ascent was as swift as it was unexpected.