Following a massive price increase upon what was later revealed to be fake news on the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF), the maiden cryptocurrency has somewhat consolidated its gains, but the situation has hinted at possible price gains in the event of an actual approval.
Indeed, crypto news portal CoinTelegraph originally shared that the United States Securities and Exchange Commission (SEC) had finally approved a spot BTC ETF, and before anyone realized the mistake, Benzinga and Reuters had already picked it up, and then it showed up on Bloomberg terminals, on October 16.
Bitcoin’s reaction to fake ETF news
In response to the original news, the price of the flagship decentralized finance (DeFi) asset had jumped from around $27,700 to $29,500 (an increase of over 6%) in mere minutes, only to drop again by more than 5%, to below $28,000 as it became apparent that the news was false.
Although the price of Bitcoin has begun to return to its pre-pump state aft
We współpracy z: https://finbold.com/heres-potential-bitcoin-price-range-if-spot-etf-gets-approved/
