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After the recent announcement made by Cointelegraph, the price of Bitcoin has surpassed $30,000. However, the price quickly dropped back to $28,200. As we mentioned during the initial announcement, this could be a fake news or related to a platform hack. So, has the ETF been approved? Why did BTC drop?
Why Did Bitcoin Rise?
Following the news of the ETF approval, the BTC price exceeded $30,000. However, FOX’s Elenor Terrett just confirmed that she contacted BlackRock a few minutes ago and the ETF approval news has been denied. Bloomberg analyst James Seyffart had also stated that this could be a fake news 10 minutes ago. The unconfirmed ETF approval claim has not been removed by Cointelegraph yet.
Looking at the Bitcoin price movement, we can see that investors believe in Elenor’s statement. A last-minute announcement from BlackRock or the SEC could either push the BTC price below $28,000 or above $30,000.
For now, the situation looks fake due to Bloomberg experts’ inability to confirm the news, the absence of an announcement on the NASDAQ website, and BlackRock’s denial according to Fox News.
