Bitcoin, Ethereum, Dogecoin Spike As False BlackRock ETF Rumor Sparks $104M Shorts Liquidation: Analyst Says 'Real Tweet Would Do So Much More'
Portfolio Pulse from Mehab Qureshi
A false rumor about the SEC approving BlackRock's spot bitcoin ETF application led to a significant surge in major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. The rumor resulted in the liquidation of over $104 million worth of short trading positions. However, a BlackRock spokesperson clarified that the application is still under review. Following the clarification, Bitcoin's value declined to around $28,000.
October 17, 2023 | 2:39 am
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NEGATIVE IMPACT
Bitcoin experienced a surge following the false rumor about BlackRock's ETF approval. However, its value declined to around $28,000 after the clarification.
The news directly affected Bitcoin's price, causing it to surge initially and then decline after the clarification about BlackRock's ETF application.
CONFIDENCE 95
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
BlackRock's ETF application is still under review by the SEC. The false rumor about its approval led to a surge in cryptocurrencies, but the company's stock may not be directly affected in the short term.
The news directly pertains to BlackRock's ETF application. However, the company's stock may not be directly impacted as the news primarily affected the cryptocurrency market.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Dogecoin experienced a minor surge following the false rumor about BlackRock's ETF approval. The impact on its price in the short term will depend on further developments regarding the ETF application.
The news affected Dogecoin's price, causing it to surge slightly. However, the future impact on its price will depend on further developments regarding BlackRock's ETF application.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Ethereum also experienced a surge following the false rumor about BlackRock's ETF approval. The impact on its price in the short term will depend on further developments regarding the ETF application.
The news affected Ethereum's price, causing it to surge. However, the future impact on its price will depend on further developments regarding BlackRock's ETF application.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 75