Topic: Bitcoin ETF Approval: Fueling Bullish Momentum? (Read 527 times)

I get the impression to some degree that the current re-test of $30K is based on the idea than an ETF could still be approved soon, after the previous fake-news pump. The latter seemed to remind people that it remains possible an ETF will be approved soon, even if I find it unlikely. This also means that all it will take is for another SEC delay or some negative news for prices to return to the lows of the range imo.

I very much believe that if it weren't for the fake ETF news pump price would still be between $25K and $28K, even if that remains just a theory. I'm not convinced the XRP news has anything to do with Bitcoin's price movement, as in the past we've seen XRP pump with Bitcoin remaining stable in such scenarios. Currently Bitcoin's price as well as market dominance is increasing together, so seems unrelated.

If anything I'd say that Bitcoin's market dominance moving back above the 200 Week MA for the first time since March 2021 is the more significant factor here and is causing more shitcoin liquidity to flow back into Bitcoin, as opposed to any new money coming in. Some of the large cap altcoins (like ETH/BNB) with relatively high liquidity are very much on a knife edge against BTC or otherwise breaking down for example.

While Bitcoin's price remains very much range-bound and has been for 7 months now, it's market dominance is very much breaking out again and at it's highest level in over 2.5 years.

I know that comparing gold ETFs and bitcoin ETFs is not entirely accurate, but I think there will be a psychological impact on the market as you said, which will create extremely strong Fomo and push bitcoin prices up. That's why I'm so bullish on ETFs. But we should also be careful in everything, we have a saying "buy rumors, sell the truth", if ETF is approved this year there will also be a big trap attached. I mean when the news of an approved ETF comes out, the market will Fomo and that's when the market makers will take profits. No matter how great the demand for bitcoin is, this market is still heavily manipulated, so we should be more careful.

As I've read on one article from theblock, Gary said that they are either to approve it one by one or do it in batch. I think that gives some speculations that a spot Bitcoin ETF will really be approved. I wonder how would the market would react if it were to be approved, not mega bullish but it could mean a thing or two for those traditional investors who wanted it. No, don't talk about alts in here, we have a specific altcoins discussion to talk about alts.

There is no doubt that approval of ETF will fuel the positive trend of Bitcoin.  It may not directly create demand but it can impact the market sentiment and can even give a huge impact to Bitcoin price if the ETF gain popularity and trust of masses.

David Waugh stated in an article that ETF can serve as a connection for financial professionals who were previously hesitant or unprepared to enter the crypto space which could positively impact Bitcoin.

I know that nothing is certain here, but if you see the market reaction to the fake ETF news, you will believe that if the ETFs application is approved by the SEC, it will have a huge positive impact on bitcoin. Just as we are looking forward to the upcoming bull season after the halving, we do not have any evidence that it will definitely happen but we are still hopeful. So it's not wrong that many people are also hoping that the approval of ETFs will also create a price breakthrough for bitcoin.

Why in the name of all that is Bitcoin are you asking about altcoin investment advice in the Bitcoin section? You do realize that Bitcoin is not an altcoin but rather the original cryptocurrency, right? That is what the "alt" part of altcoin means. Alternative coin.

I would be wary of trusting anyone claiming that some altcoin is a good investment. You can check the top altcoins at coinmarketcap.com and compare their functionality,  development and so on...

Also, the rumored approval was proved fake. It was cointelegraph sending out fake news. They already apologized for it.

I think the bull that will occur with the halving will definitely blow up layer 1 and 2. There have always been the igniters of the bull during the periods when the bull market dominated. After the 2024 Halving, i think the ignition will start with layer 2 coins. ARB and OP will take the lead. I will use the weight in favor of ARB, i trust the progress of the Arbitrum ecosystem more than OP. Because of OP hacking incidents etc. OP has corrected this situation and continues on its way, of course. In addition to Layer 2s, we can also add CELR, the Celer Network, which we call a Layer2 solution. These are the three coins that i think we must have in our hands when entering the bulls.

If this was intentional then this was a bull trap to fill up the short position above 27k level and trap the long position. This is a valid accusation, and if it is true then there will be initiative to liquidate those long positions before moving upward. This can be mistake done by the news portal media but if that is true then how did they make $2 million from this news manipulation? Their statement seems fishy to me and an official investigation report should be made public in the future.

Yeahh, $XOR is a good pick. I've been seeing it around lately, its usecase as a governance token will aid the democratisation of finance. I've also heard about the Candybomb event for Bitget Filipino users

I see something else in your gold chart. Take a look at the years 99-2007. It looks like every previous bitcoin bear market, just placed on an extended time line. There was a bottom, followed by a strong pullback, then another bearish decline that formed a double bottom, so a confirmation of the bottom, followed by a return to the mean that eventually made the price go back to before the crash.

Compare this to bitcoin on the weekly chart. We have our FTX crash bottom, followed by a sharp pullback, this time with no double bottom formation and a return to a stable level of around 30k, which is almost half of the all time high, just like 9k was in 2019.

I am considering investing in $ORBS and $XOR. The latter seems more appealing to me because it appears to be oversold and could potentially yield returns for the Polkadot project. I am planning to purchase it on the latest exchange that listed it, which in this case is Bitget. By buying XOR on a centralized exchange (CEX), we can help reduce the token's emission.

In my opinion, these are classic manipulations, but I believe a turnaround will happen sooner rather than later. Given this, don't you think accumulating some alts right now is a wise move? If so, which ones are you considering and where?

Why are we all still looking at that Space-psycho owned social media posts as the bible?

Have we not matured enough to remain calm in situations like these and take everything in the crypto space with a grain of salt?
It needs more polishing it seems.

Anyway, I would suggest people to wait this out. If bullish markets set in, keep sell orders above 35K and 40K to maximize profits. If ETF does get approved, no wonder the prices will rise but they will correct again giving everyone buying and selling opportunities.

Hence bottom line - Dont panic and stop following social media.

I think Cointelegraph is not like this on the past so maybe it is true that some of their team members are only messing up with their operations. Therefore the investigation that they said could be sincere. They need to catch that untrusted member and fire it up immediately in order to protect the reputation of the company. Most fairy tales might be fictional but I still believe that a happy ending can happen here.


But, how do we know if SEC approves an ETF? Most of the times the only way for us to know the latest crypto news is by browsing crypto news sites. But one thing is for sure, and that is we will now double check things first before we believe on them.

Obviously you can feel the change in the market since Blackrock announced that they’re getting into the game. I think everyone is expecting ETF approvals and a rally early next year as a result, so we can only hope that everyone is right and this isn’t a massive case of buy the rumor and sell the news, which would be bad.

Are your predictions short-term? Because I think in the long run between now and the halving, we will have many corrections and there is even a possibility that bitcoin will drop to $23k, not just 27k. Even if bitcoin surpasses $30k this month, there is no guarantee that bull season has arrived and we won't be able to fall any further. If we believe in the 4-year cycle, bear season is not over yet so we cannot expect prices to increase from now on even though the market is doing well this month.

If we see market conditions and focus on the trading aspect and price movements it seems that the upward trend is approaching its peak point, the potential for a downward reversal is underway even though several attempts have been made to push the Bitcoin price up to continue the upward trend, but they have failed because there is quite strong selling pressure there. If the selling pressure continues and breaks the resistance at $28,200 then the price will fall to $27,500.

The impact of ETFs is undeniable. Even one fake news can increase the price of bitcoin. If it is true news, it will have a huge impact, you are right about this. But for some reason, many people still don't believe in this and think it is of no use. I have also seen some charts on gold after the gold ETFs were approved and I also believe that the hype on bitcoin will be many times stronger than that of gold. Because bitcoin is already hugely hyped and this is the reason why it is hyped even more.

I believe Bitcoin Spot ETFs in the USA only get first approval and later ones in a big Bitcoin bull run. If such approvals come, they will come after halving events that historically cause new parabolic bull runs for Bitcoin.

Compare impacts of Gold ETFs to Bitcoin Spot ETFs is good but again your comparison is only kind of estimation and it can be under or over estimation. We don't know how one event can affect another thing before the event actually happens and effects already seen. Similarly to difficulty we have when trying to find bottoms and all time highs of each bear or bull market.

Many people are underestimating the impact of ETFs on bitcoin, but if you look back at the history of gold, you will see how gold skyrocketed after the gold ETF was approved. I also believe that the impact of an ETF on bitcoin will be huge and very significant on bitcoin price.

If it doesn't have any impact on the market then why is the entire market bullish and paying attention to ETF related news? You can also see that just 1 fake news release in less than 1 hour can make the bitcoin price increase a lot, but what do you think will happen if it is real news?

I think you need to look at this chart to see the real impact of ETFs being approved.

Even with fake news, as long as the market is already on a bull run, it won't mess things up much. The bullish trend will just keep on rolling. That ETF thing has been making the rounds in rumors for a while now. I reckon those rumors help fuel the bullish sentiment because people are used to hearing about it. In the long run, it could have a significant impact on the market.

But speaking of hype, it usually hits harder when the rumors are fresh and exciting. You know how they say, 'sell the news' because by the time it's official, the hype might have worn off.

Agreed, it is really very head shaking how everyone is cheering for this market manipulation. This is very bad and it might reduce the chance of an ETF approval because the SEC can presently declare that the bitcoin market is being manipulated easily.

There is also these types of fud that are being reported by mainstream news media. I speculate that because of this war and because of the sensitivity of the situation in the Middle East, I reckon some of the applicants of the ETF might remove their applications and postpone later.



How Hamas is using cryptocurrency to raise funds

But Hamas has apparently not stopped such efforts altogether. On Tuesday, Israeli authorities announced the freezing of additional cryptocurrency accounts that the group had allegedly used to collect donations during this week’s conflict.

And aside from bitcoin, crypto wallets that Israeli authorities have said are linked to Hamas have included the cryptocurrencies Ether, XRP, Tether and others, according to an Israeli government order.

It’s unclear how much money Hamas has received in cryptocurrency, but there’s evidence they have amassed significant amounts.

Source https://edition.cnn.com/2023/10/12/us/hamas-funding-crypto-invs/index.html

On contrary though, we have seen how a supposedly Bitcoin ETF approval will fuel the market. We've seen a glimpse of it, and so imagine if this is really true and it did happen when we are about to commence the bull run after the block halving, could really be a huge surge of money in the ecosystem.

Nevertheless, it was a fake news, on the bright side, we witnessed $30k after. But obviously short day traders could have taken advantage of it and speculate and then sell at that price, pulling down the market to the $28k'ish.

Nowadays the majority of people are becoming more lazy to search for the truth. So they always trust a media too much rather than waiting for the original source to provide an explanation. This is what makes market manipulation easier to do, even just through fake news in the media.

The price spike that occurred that night resulted in many short positions being liquidated. And the funny thing is that many long positions were also liquidated after the news was confirmed to be fake. Well this is very funny. This is why it is important for us not to immediately believe the news. But for traders, this momentum may be very profitable.

These kinds of fake news events have a reason why they do such things. If this is indeed fake news, the price value of Bitcoin in the market will suddenly go up. What if this news is true? Then the question is, why did Cointelegraph do that thing in spreading false news?

And this is what I discovered: Cointelegraph did that because they wagered $50,000 on Rollbit and they won X50 on the amount they bet, therefore their ROI returned 4401.01%. This is the link:

https://x.com/rollbitcom/status/1713919556568113503?s=61

 So this is the main reason why they make such fake news here in the crypto industry.

It was probably a joke (and very good one I must say  ), with Rollbit insinuating that someone from Cointelegraph released that news on purpose in order to make a profit and that's definitely something I see happening.

Does this mean you consider people buying bitcoin en masse a manipulation?
IF ETF gets approved and the price goes up by 100% to 50000 will you call that manipulation?

We all knew what's coming and people had literally years to buy bitcoin cheap before the ETF since the Grayscale application is really old. It's just that people weren't taking it seriously enough up until BlackRock stepped in and SEC lost in court.

People going all in because of ETFs is not manipulation.

LOL! I see... Maybe it's just a joke on Rollbit's part after all. No one is stupid enough to use the Cointelegraph name if they wanted to profit from inside information. Besides, the exit price is too perfect, no one could have predicted it so well.

But again, anything is possible.

Those things didn't fuel any bullish momentum, something else did, but people would rather believe a lie which the opaque system of darkness has used to blind many it currently enslaves. It's for the good of people that they stop believing in its delusion.  We are focused on decentralized system which is independent of the centralized one...and this means the centralized has no power over the decentralized.

If you want to see a serious bull run this October, which really has nothing to do with the alleged historical bull run, then focus more on doing positive things for Bitcoin that is according to its principles rather than against them (and don't try to give credit to the wrong people for the increase.) Things that are against the  principles don't increase its price nor make it more valuable.

Doesn't matter though, if you look at other crypto related websites, majority of them could have at one point released news that is not true. It just so happen that cointelegraph was caught redhanded on this one.

And now crypto enthusiast riding the hype, saying that the bull run is here, as the news was released, the price was pump to $30k and then now we are in the $28k++ price range. Not saying that SEC might not approved any Bitcoin ETF in the future, but this was a big blunder by cointelegraph.

Hence we need to be smart and careful when analyzing the market, and I think it's actually the right time to start gathering some alts, given most have almost bottomed out. I did a quick scan of the top-performing alts this month on platforms like Bitget, and I found some gems doing extremely well this already. You just have to know which alts to collect

I am more excited about how many followers will unfollow Cointelegraph after this. I already did that, and I am waiting if more of their followers will do the same. Spreading fake news from a big news outlet is not a good thing and I'd like to see someone who will pay for this shitshow that happened. It's an obvious manipulation of the market and many bite it because they know they are a legitimate news outlet.
SEC won't just approve this Bitcoin ETF, they may have said they won't fight back but they can still extend the approval for so long that investors are starting to get bored about it.

Haha right I was referring to Rollbit's reply seen on X.com - kind of skeptical of the name but I know the name is obviously the same as Cointelegraph mass media.

Many think it was Cointelegraph because he coincidentally put a low price and exit price of $30K who knows this info except Cointelegraph itself. 

Never mind who's right, I've seen their clarifications on the new media recently but not what Rollbit is showing.

But as the years passed, there have been changes in these seasons. There have been lapses for the known months for Bitcoin to be bullish just like in the past when people have compared December because 2017 was when the bull run happened. And comparing it with the following December's, not that much to say and not a lot had happened.

That's common. As we all know, whenever Bitcoin goes up then everything in the market follows it as it's the leader of the entirety of cryptocurrency. A bull run happens for Bitcoin, there goes the equal reaction for which results the called 'altcoin season'.

As far as I know this is fake news so better not listen to this news. If compared to altcoins, I think investing in altcoins rather than Bitcoin would be a bit foolish.  Because at one time I had to face a lot of losses by buying altcoins, but I won't say that altcoins are bad. If you want to choose altcoins and bitcoin, you can definitely choose bitcoin. Bitcoin will be very good for you as you will understand yourself when you invest in Bitcoin.

When I saw how Bitcoin was growing so significantly, I realized that something was happening, but it was difficult to understand what the reason was, I also had thoughts about the ETF, but nothing foreshadowed this, so I discarded this version. Later I saw the news about the fake, and was even more surprised how the market could react so strongly to the deception.

Historically, October has been bullish; however, I haven't observed much momentum in BTC recently. On the bright side, some altcoins have been performing well. I reviewed my portfolio on Bitget a few hours ago and am pleased with the results. XOR, Bigtime, and Tip are among the tokens showing positive gains.

Maybe it can and we'll see the window of $30k but it seems that the correction is about to happen and it stopped going on to $28,500. As that could be the peak of this fake news effect.

Yeah, October isn't yet the month that seems to have the push for Bitcoin. Everything will be seen when we're close to halving and after that. That's the most exciting part and we don't need any of these fake news because majority of the news that will come out by that time are likely going to be good.

Many people still underestimate the impact of ETFs and think they are useless, but if someone looks at the gold chart, they will see how big the impact of ETFs is. ETFs have caused gold prices to skyrocket and that's why I believe that if the SEC approves an ETF to coincide with bull season, we will have a super cycle. This seems quite unrealistic, but if everything matches, I believe bitcoin reaching 300 thousand USD is not too difficult. I'm optimistic about that.

Cointelegraph’s Twitter has 1,9 M followers, and that lead to a quick and wide spread of the (fake) news. Likely, many of those followers are media, which jumped to eco the news, enhancing its speed and reach in a short time span.

By the way, with hours delay over the three initially compromised hours it would take to clarify the events, Cointelegraph published a notice saying sorry and depicting the chain of events:

https://cointelegraph.com/news/clarification-sharing-false-spot-bitcoin-etf-news

In summary, they state that the team in charge of publishing on the social network skipped protocol, and did not have their editor confirm the news before jumping to Tweet it. The information was based on a message they received on a Telegram channel used by them to discover news that could be of significance. The source was from a now deleted account, and someone got too excited over it and forgot to follow protocol. The details (with screenshots) are provided in the link above.

That golden tick on twitter accounts though! It seems having that tick makes whatever they say as a true fact, legit and reliable which is a dangerous thing and people should be warned not to trust such sources ever. When you see a manipulation at this scale, you should shun and discredit them and ignore them in the future.

But you know people, usually blinded by greed, and gullible enough to believe the "media".

Yeah I woke up this morning and saw a huge spike on BTCUSD Perps on Binance. Figured it’s some stop hunt so I checked Coinbase and the wick looked the same.

Then immediately without checking the news, I knew it was going to be some fake report about an etf being approved only 30 mins later to be deamed as fake. 

Whether they have an intention to create a fake news or not, but actually such news should have no impact to market, so I don't agree if you said they want to manipulate the market. It just an approval for Bitcoin ETF, there's no relation with Bitcoin where everyone can buy it through CEX, DEX or P2P.

Why someone need to buy BTC during SEC approving Bitcoin ETF? or anything that related to accepting and BTC when you can buy it now?

I do not think so though the price has remained consistent all throughout this year.

If there is one thing that people are speculating for its price to increase, it would be the 2024 fork that will happen. Expect prices to increase and that would be the time that we will consider that we are on the bullish run for that season. While this may be true and other speculations and events have affected the price of BTC, it is nothing that significant to call or even consider it as a bullish run.

Ahh the news wasn't legit but the impact was astonishing. This was a test pump and the bull shows us how it will pump the market when we get official approval. The market pumped to 30k and dipped back to 27k within an hour. This situation shows us how easy it is to manipulate the market and i have heard that there was some insider news on cointelegraph as well.

No government agency will prosecute anyone because we want to be free, we want to be uncontrolled, and we are willing to disobey government regulations. So they have no reason to protect those who oppose them? That is the price of freedom and we need to protect ourselves against market manipulation.
I don't think there will be any ETF approvals this year, so will it be another pump or dump by the sharks in the market? Let's wait and see what happens.

Cointelegraph's twitter account has over 2 million followers and that's why it had such a strong impact even though the news was deleted within 5 minutes. They apologized and I think nothing will happen to them even though everyone knows they are manipulating the market perfectly. But this shows the positive impact of the ETF on bitcoin. Even though it's just fake news, sooner or later it will happen so we just need to hold bitcoin and wait.

Musk did an even worse thing when he announced that Tesla would be accepting bitcoin and that he bought some and then changed his mind and backtracked. Bitcoin dumped of course but Musk sold before the dump and before his announcement which is the definition of market manipulation.

If no government agency went after Musk then none will go after Coin Telegraph.

On the positive side there will be some new ETF deadlines coming up in a few hours. Maybe there will be another pump, this time for real.

I'm now curious what will happen to Coin Telegraph, I am not sure if this is illegal or not. Because it's kinda a form of market manipulation. Cointelegraph is one of the biggest news entities in the cryptocurrency market. And I believe they are the reason why we just pump immediately to $30,000 and full retracement after it was confirmed that it is fake news.

I wonder why FTX people didn't think of it. They could always say that trading with customer's money was an intern's fault

Who's stacking their bags?
When I was very young and someone said they smell a fart, the usual childish answer was "the one who smells produces."
Detectives like to say that the culprit is the person who benefited most from the crime.
Both of these explain this case pretty good

I am not sure if Cointelegraph consciously spread the fake news to manipulate the market. If it happens, then they might encounter legal action. But the pump really was unexpected. Even though Bitcoin ETF approved, the market hasn't reacted like this previously. By witnessing today's pump, it seems we will see a bull run when ETF gets approved. By approving multiple Bitcoin ETFs, there is a real bull and halving also coming. So it will create a FOMO in the Bitcoin community, which will push hard Bitcoin.

There are really some mistakes that are too expensive to make, and who ever makes it should go in for it.

One of such mistakes is this one cointelegraph has made. Personally, I do not believe this to be a mistake but pure manipulation. They knew what they were doing and they did it for nothing else but their own benefit.

Unfortunately, the cryptocurrency market is not regulated yet, else, the authorities are supposed to step in and hold cointelegraph accountable for all the money they made people lose in just a short period of time.

Absolutely, this is indeed a significant milestone for the crypto industry. It has the potential to attract more investment and drive Bitcoin adoption. The change in the SEC's stance is pivotal, and we're seeing major players like BlackRock and Invesco getting involved.

This is fantastic news for the crypto world, opening doors for both institutional and mainstream investors. Exciting times are ahead!

The event simply shows how capable the news about ETF approval to fuel bullish sentiment.  With this kind of event and the halving event, it is now worth knowing that Bitcoin possibility to skyrocket in the time when these ETF applications are approved one by one may bring the Bitcoin market price to a new level.  It is a very comforting thought to hodl when there are these possibilities (spot ETF approval and the FOMO) to happen in the future.

---

It is a huge sign of irresponsibility on the part of the news company that releases that fake news.  Those who suffered losses may file a case against this news agency because of irresponsibility of not validating the news before they publish it.

Everything is in control and intentionally or not, a cointelegraph should already have the research to make a status update or claim about something important.
A manipulation can be done by anyone including big media that has many followers.
They certainly benefited, but on the other hand, the Cointelegraph has doubts about its quality.

LOL, market manipulation that benefits Cointelegaph interns.
Making profits quite easily in just a few minutes.


The push continues slowly even if it's fake news.
Even touched $30k in an instant, but will it last?
I think there will be some more spikes later, October is not over yet and it will be a chance for the market to start rising slowly.

Despite the news was all fake and unreal. It seems that the push has been going on and I do think that it will reach up to $29k and even more than that because it shows no sign of backing down despite all of the corrections of what Cointelegraph and the follow-up of other Tweets about the fake approval.

I agree, while the excited ones have been caught by this FOMO. But it's only a matter of time before they actually approve one or a couple of these ETFs filed for them. It has nowhere to go and everyone is just waiting for the go signal and yes from the regulator (SEC). This money's ready to be loaded onto the market just as we're seeing it right now. It only takes a few hours before a few thousand for Bitcoin's price to be up. There could be more if we finally get to see the true approval. Anyway, I'm intrigued if there will be suing that will happen from the liquidated ones against Cointelegraph.

He is referring to a reply Rollbit left earlier today on one of the Cointelegraph's tweets. I am not sure wether this is Rollbit's joke or for real  


https://twitter.com/rollbitcom/status/1713919556568113503

Some people benefited from this shitshow by opening short position right after the spike. This was expected even though the news was true. Market market doesn't have the momentum to carry a rally and the hype would have faded away after few weeks. 

I am not sure if the false news was intentional or not but cointelegraph made profit by their mistake or it is possible that they were following someones order. 

Yeah right! That was totally on purpose. Now, we just gotta figure out who's stacking their bags today.

But, imagine if the SEC actually approves a Bitcoin ETF today! No one would believe it after this. 



Is that for real? Where did you get that info? Or are you just kidding?

I'm not a trader and I don't react to these news and price moves. My bitcoin is safe in my wallet and that's all there is to it.
If you get excited and keep buying every piece of news without verification, you'll end up like these people who bought bitcoin today and got dumped on.

Take it slow people, bitcoin isn't going anywhere. When the ETF finally is approved you'll have a lot of time to enjoy the uptrend.

As many investors were looking forward to the approval of the Spot ETF but in reality this result was a fake published by a major media outlet (Cointelegraph).
If this does happen it might be mini bullish and bitcoin is in the $30K range but right now despite the fake news bitcoin is still holding in the $28.3K area which is quite a good number and a green sign.

Is it possible that just because of the ETF approval by the SEC resulted in a big bullish? I don't think it's time yet even if it happens it will probably be above $30K and won't be able to be in a high spike.
That is bitcoin can still be influenced by news that can become hype.

People have always tend to circulate fake news in other to be able to cause the social media stir that will lead to misinformation, knowing that the BlackRock spot ETF application is one of the most waited approval it's investors have always waited upon, people try to make use of fake news to derive this kind of attention that may drive the market price high and goes more volatile because many will be investing and seeking advantage in this, not knowing all these are social media influencers fake need unless verified from the official website or institution involved.

They've been at it for months now. I don't think they're really going to push for bitcoin ETF lol, probably just giving us blueballs at this point. And even if they did mean it this time the market's not reflecting well upon this news. Just a couple of hours in and we're already in the red (granted we still have a whole day to wait for it to resolve but whatever), which goes to show how we're either fed up with the bullshit that the SEC's putting the bitcoin community through, or we're just not buying their shit anymore.

Moving forward I see this as a massive win. I don't think bitcoin ETF's going to be beneficial to bitcoin anyway considering the fact that it would be manhandled by stupid retards on Wall Street instead of the people where it truly belongs.

Only fake news circulating can move the market so aggressively and quickly. So I think right now people are fully prepared for a bull market. Because if the news is true then of course the price will not be corrected again and will probably continue to rise higher quickly. However, it is very unfortunate that this news is a hoax.

However, this incident at least provides a fairly clear picture that bullish strength is really strong. Just waiting for a good momentum to happen. And when all Bitcoin ETFs are approved by the SEC then I think the rise will really be much faster. It's quite scary to see the market moving quickly like that.

It turned out to be fake, I almost long the market because I knew it would be a big pump but coming from Cointelegraph makes me halt, because this website is always filled with nonsense, mostly lies, I remember in 2020 when I was doing some research on new projects, this same Cointelegraph shilled some new projects and it ended up a scam, and I couldn't find the link to the project on their website anymore, I noticed they got rid of it so fast, there are also some projects that are not even listed on Binance exchbage but for the sake of creating FOMO they named Binance as one of the exchanges that the project will get listed on, later it turned into a different story, to cut this short Countelegraph can not be trusted, they have been doing this for so long and maybe many don't notice it, like 100M have been liquidated because of this fake news today, I escaped this because of my past experience with Cointelegraph.

Something like this came up somewhere. A nice drop indeed and around 65 million in BTC liquidated... Some more weak hands are gone from the market. Evolution theory doing what it is supposed to do. Keep it going.
Nevertheless, an impressive move of price.

This news has galvanized X.com has clarified that this is fake news published by Cointelegraph.

In all likelihood, they made a mistake, and tried to manipulate through their own news. LOL

They have made $2,250,800 from Rollbit with 4400 percent ROI under the name Cointelegraph. Obviously this is something that was planned and they made an entry and then went out and said it was an internal error. Very funny. 

Why scandal? Its not like we didn't have fake news before and this one is no different than the others and if someone got rekted by following these typpe of news , tough luck.


Allegedly its an intern fault lol. How convenient. 

if your making large financial actions(without decision) based on a tweet you read minutes ago without researching or validating the source information.. then learn from your mistakes fast! or you will just repeat them and blame everyone else

the Cointelegraph Twitter account said that the Bitcoin ETF was Approved, but now that tweet is no more. Manipulation?, Or just Negligence? But I leave you this image and tell me hehe

https://twitter.com/wiseadvicesumit/status/1713928047555125327

dont trust, verify!
and with this tweet Cointelegraph apologizes for its 'inaccurate' coverage of the Blackrock Bitcoin etf. absolute scandal in my eyes and i am very curious what the 'internal' investigation will bring.


https://twitter.com/Cointelegraph/status/1713925876969017792

This is madness. It’s a fraud since they are using their service to manipulate the price for their own gain. This why regulators is very eager to tighten crypto regulation because of this kind of shady services that was supposed to be sharing genuine news only to crypto space.

I they will face lawsuit once proven their act of manipulation. There’s tons of money loss both positions due to this price manipulation.

BTC is still very susceptible to manipulation, especially regarding news. Cointelegraph's class alone can provide fake news like this, is this the reason the SEC has not accepted a Bitcoin ETF until now?

When someone trusts that source, he gets exactly what he was looking for, which is fake news or a poorly written article. It seems to me that someone from that team did it on purpose and made good money, and all that nonsense about the investigation is only for naive people who believe in fairy tales.

If it happens that the SEC approves such an ETF for anyone, be sure that you won't read it first on some third-rate portal that doesn't know how to produce anything other than clickbait titles.

It is true, several well-known online media do not contain credible sources in this matter, but it seems that BlackRock also confirmed it is a false statement.



As you said, at least an initial picture can be seen of how the market will react if the SEC approves the BlackRock spot bitcoin ETF.

Hahahaha ... this is annoying, and I really hate the news just like you sir. And fortunately it can be overcome quickly, I don't know how it is left in a few hours until it spreads the world.

Yes, at least we see the domino effect of ETF Bitcoin when received by SEC to be traded, it seems that most people are waiting for that momentum to shop Bitcoin, rather than buying today and waiting for it until it is done.

Just because it came out of the trusted media development of Crypto, fake news also got a crazy reaction from Bitcoin investors.

It was fake news, and the cointelegraph deleted it, it was just someone's manipulation, and many long/short orders were liquidated. Be careful with all this news instead of getting excited, I think the market will have a stronger correction after this news is confirmed to be fake.

Besides bitcoin, I think this is not the right time to invest or accumulate altcoins. If you pay attention, many altcoins are showing signs of creating new bottoms instead of starting to recover. From what I see, when bitcoin increases, altcoins do not increase, but when bitcoin decreases slightly, altcoins decrease a lot. Therefore, investing in altcoins at this time is not wise.

True, it is very unfortunate that this fake news comes out of the mouths of the relatively large crypto media. Create market panic. This created a short squeeze and a long squeeze in a matter of minutes and who knows how much investors and retail lost due to this.



Within 10 minutes the news about the ETF went viral trending on Twitter. There are investors who experience losses of approximately $50 K.
https://twitter.com/lookonchain/status/1713920641521660232?t=WLXnCbgRBa6W5_YvigxKjw&s=19

This is why it's good to take conservative approach in bitcoin instead of diving head-first into anything. Anybody who used that tweet as a signal to long and didn't get out early enough is in solid losses now.

---

So Cointelegraph has made a tweet ~15 minutes ago to explain the situation:


However, there is a reply[1] from Rollbit Casino that claims Cointelegraph made a long of BTC just before the tweet went live and closed at the $30,xxx price level.

[1]: https://twitter.com/rollbitcom/status/1713919556568113503

Lmao it's a shitshow. Can't believe such false news caused a domino effect among other "news" sites as they blindly followed the original article poster.

On the bright side — at least we now have an idea on how much we can pump once a real ETF approval takes place.

It didn’t really pullback to consolidate, but rather the market went back to how it was before the apparent fake news originated in a CoinTelegraph Tweet (now deleted), stating that Blackrock’s bitcoin spot EFT had been approved:


A journalist from Fox Business, Eleanor Terrett, contacted a representative from Blackrock, and confirmed the news to be (currently) fake. It seems that its only a matter of time, just not right now.

What would be interesting to know is where CoinTelegraph got their information from though. It seems we'll know in a few hours:
https://twitter.com/Cointelegraph/status/1713925876969017792

See:
https://www.newsbtc.com/bitcoin-news/bitcoin-price-surges-7-in-10-minutes-on-fake-ishares-etf-news/
https://ailtra.ai/blackrock-confirms-bitcoin-etf-approval-fake-news/ (source of the captured image)

With the rumoured SEC's approval of a Bitcoin spot ETF, we've witnessed a bullish surge in its price, surpassing the 30k range before pulling back to consolidate for another potential run.

Considering this, is it safe to say that we're experiencing a historically bullish October? Additionally, which alts are you considering accumulating before the year's end? Let's dive into the world of alts together.☺️