Bitcoin ETF Approval: Fueling Bullish Momentum?

[Aanuoluwatofunmi]

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.

[1715032438]

1715032438

[salad daging]

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.

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.

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.

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.

[coolcoinz]

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.

[decodx]

Allegedly its an intern fault lol. How convenient. 

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. 

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.

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. 

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

[Sophokles]

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.

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. 

[Rikafip]

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

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

[bhadz]

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'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.

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.

[taufik123]

-snip-
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. 

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.

He is referring to a reply Rollbit left earlier today on one of the Cointelegraph's tweets. 


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

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

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.
-snip-

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.

[serjent05]

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.

[R100K-Martin-Lunger]

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!

[Fivestar4everMVP]

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.

[The Cryptovator]

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.

[pixie85]

Allegedly its an intern fault lol. How convenient. 

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. 

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

[GreatArkansas]

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:
(...)

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.

[pixie85]

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.

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.

[n00ber]

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:
(...)

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.

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.

[CryptoBuds]

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.

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.

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.

[Sophokles]

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.☺️

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.

[qwertyup23]

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.☺️

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.

[Plaguedeath]

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.

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?