Following false information on the approval of the iShares Bitcoin ETF, the price of Bitcoin (BTC) dropped abruptly by 8%, falling below $27,000.
After a news on Reuters, cited from Benzinga, indicated that the Securities and Exchange Commission (SEC) had approved the ETF application by BlackRock, the price of cryptocurrencies momentarily rose beyond $30,000. These claims, which were widely accepted as being true, were eventually refuted by BlackRock’s own remarks.
Reporter Eleanor Terrett for Fox Business emphasised that BlackRock refuted the reports of approval and said that their application was still being considered.
One of the initial news sources to cover the story, CoinTelegraph, then changed their piece by adding the phrase “reportedly” to their assertion. This action garnered criticism and lighthearted barbs from industry observers. James Seyffart, an ETF analyst, wrote on Twitter, “They amended the message to add’reportedly’ hehe. “Guys, you reportedly reported the report!”
As the disinformation fiasco comes to a close, Bitcoin is presently trading little over $28,000.
