Rumors about an approval of the iShares Bitcoin spot Exchange Traded Funds (ETF) sent the price of BTC skyrocketing, only to come back to Earth when the asset managers, BlackRock, confirmed the news was false.

Rumors about the US Securities and Exchange (SEC) approving the spot Bitcoin ETF sent the BTC price nearly to $30,000. However, the price has started retracing back to the $28,000 level after BlackRock called out the rumors.

Read more: 14 Best No KYC Crypto Exchanges in 2023

Finance journalist Eleanor Terrett wrote on X:

“BlackRock has just confirmed to me that this is false. Their application is still under review.”

Due to the volatility brought by the rumors, trades worth over $105.28 million were liquidated in one hour. Specifically, $32.03 million in longs and $73.25 million worth of short trades were liquidated

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Author: Harsh Notariya

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