In a surprising turn of events on Monday, October 16, Bitcoin (BTC) experienced a swift ascent, peaking at a significant 10% gain and touching the $29,900 mark, its most impressive level since August.
However, these gains were nearly erased when BlackRock, a prominent asset manager, dismissed claims from a report in the cryptocurrency news space. Specifically, Coin Telegraph had prematurely announced the U.S. Securities and Exchange Commission’s approval of BlackRock’s much-anticipated application for a Bitcoin spot exchange-traded fund (ETF). This news was later withdrawn by the media outlet.
The digital currency experienced a notable dip following a revelation by a Fox Business correspondent on platform X, who stated that BlackRock had repudiated the aforementioned report.
🚨BlackRock has just confirmed to me that this is false. Their application is still under review. https://t.co/XIfIWZ0Ule
— Eleanor Terrett (@EleanorTerrett) October 16, 2023
Amidst this backdrop of
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