Yesterday false rumor regarding approval for a Bitcoin ETF briefly escalated Bitcoin’s value. This misinformation, spread by a Cointelegraph account, led to a $2,000 rise in Bitcoin price to $30,000, causing substantial market reaction. Following the rumor, Bitcoin’s price notably fluctuated on trading platforms, with a significant impact on derivative traders, as reported by Nansen, where liquidations affected numerous traders. The euphory lasted 30 minutes and BTC price returned to pre-rumor level causing over $100 million in liquidations within half an hour. BlackRock later clarified that their Bitcoin ETF application is still under SEC review. 

This situation illustrates the potential reactions of crypto investors to future confirmed news about ETF approvals.