Bitcoin, Ethereum, Dogecoin Trade Mixed After ETF Rumor-Fueled Rally Cools Down: Analyst Sees Apex Crypto Breaking $30K Level
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a mixed trade after a false rumor about the SEC approving BlackRock's spot bitcoin ETF application circulated. The rumor led to a decline in the cryptocurrency market. Binance is temporarily suspending new user registrations in the UK due to FCA regulations and is seeking a new FCA-authorized partner. Binance.US also announced the temporary suspension of direct dollar withdrawals for US customers. The global crypto market cap stands at $1.06 trillion, reflecting a 0.89% increase in the past 24 hours.
October 18, 2023 | 3:25 am
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NEUTRAL IMPACT
BlackRock was falsely rumored to have received SEC approval for a spot bitcoin ETF, causing a temporary rally in cryptocurrencies.
The false rumor about BlackRock's bitcoin ETF approval led to a temporary rally in cryptocurrencies. However, as the rumor was debunked, the impact on BlackRock's stock is likely to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Bitcoin experienced a mixed trade due to the false ETF approval rumor. It is currently trading around $28,500.
The false rumor about the ETF approval led to a temporary rally in Bitcoin. However, as the rumor was debunked, the impact on Bitcoin's price is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Dogecoin experienced a mixed trade due to the false ETF approval rumor. It is currently trading around $0.058.
The false rumor about the ETF approval led to a temporary rally in Dogecoin. However, as the rumor was debunked, the impact on Dogecoin's price is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Ethereum experienced a mixed trade due to the false ETF approval rumor. It is currently trading around $1,569.
The false rumor about the ETF approval led to a temporary rally in Ethereum. However, as the rumor was debunked, the impact on Ethereum's price is likely to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100