The U.S. Securities and Exchange Commission (SEC) has not officially approved a spot Bitcoin ETF, but rumors on platform X circulated that the regulatory body has recently approved iShares by BlackRock’s Bitcoin spot ETF. This news initially caused Bitcoin’s price to rise towards $30K, but it quickly dropped to around $28K, causing market volatility. However, confirmations from the SEC and Nasdaq have shown no evidence supporting these claims. BlackRock clarified that the news was inaccurate and that the ETF is still under review by the SEC. The false report led to significant market reaction and liquidations of nearly $100 million, with many of them being short positions. The suddenness of the news surprised traders and prompted a market realignment.
AI Sentiment: Negative