Bitcoin Suddenly Leaps To $30,000 Following Refuted IShares Spot ETF Approval Report

Cryptocurrency markets experienced a sudden surge in bitcoin prices following a now-debunked report on a bitcoin ETF approval by the U.S. Securities and Exchange Commission. The erroneous report initially propelled bitcoin’s value to the $30K mark. However, the momentum was short-lived as the digital currency’s price soon plummeted to around $28K, stirring volatility within the market.

The now-deleted X post prompting this reaction came from the cryptocurrency news site Cointelegraph. It claimed that BlackRock’s
BLK
iShares division, dedicated to exchange-traded funds, had secured the SEC’s approval for a pioneering bitcoin spot ETF. The news spread like wildfire, triggering the market reaction that pushed bitcoin prices to $30K within the hour.