Why Ethereum Classic (ETC) Spiked Higher Monday Morning
Portfolio Pulse from Henry Khederian
Ethereum Classic (ETC) saw a 4.9% increase to $15.72 on Monday morning due to false rumors of the iShares Bitcoin Spot ETF receiving approval. The rumors were later refuted by BlackRock, stating that their Bitcoin ETF application is still under review. CoinTelegraph has apologized for a misleading tweet concerning the Blackrock Bitcoin ETF. The false rumors led to increased buying activity and bullish sentiment among investors and traders.
October 16, 2023 | 3:05 pm
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NEUTRAL IMPACT
Ethereum Classic (ETC) experienced a short-term price increase due to false rumors about the approval of the iShares Bitcoin Spot ETF. The price may stabilize as the rumors have been refuted.
The price of Ethereum Classic (ETC) increased due to false rumors about the approval of the iShares Bitcoin Spot ETF. This led to increased buying activity and bullish sentiment among investors. However, as BlackRock refuted these rumors, the price may stabilize in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100