In addition to all this, the SEC recently announced that it would not oppose the court decision in favor of Grayscale Investments regarding the spot Bitcoin ETF proposal. This decision by the Columbia District Court of Appeals, which overturned the SEC’s previous disapproval of the ETF, marks a significant turning point for the growing cryptocurrency industry that has been waiting for a Bitcoin ETF for over a decade.
In the shadow of the incredible incident in the market, data analysis firm Look On-Chain revealed a different situation. This situation involved a notable event with a whale address. Following the fake ETF news, the whale address quickly purchased 20.5 Bitcoin (WBTC). However, as soon as the whale realized the mistake, it sold the Bitcoin, resulting in a loss of $49,000 in just 10 minutes. The whale initially spent 613,201 USDC for the purchase of 21 WBTC, but after the sale, it could only obtai
Subsequently, this situation did not turn out well for investors driven by FOMO. Investors who rushed to buy Bitcoin during the short-term price fluctuations suffered significant losses when the truth came out.
The events that took place this afternoon have shocked the cryptocurrency world. Cointelegraph, with its information sharing, caused a small chaos in the crypto market. News emerged that a spot Bitcoin ETF might have been approved, which divided the market. The false news created a temporary price surge in Bitcoin, pushing the price to $30,000. However, an announcement by BlackRock revealed the reality of the situation, and this was one of the reasons for Bitcoin’s drop to $28,000.