The cryptocurrency market experienced a shocking scene last night (16th), all because of a piece of oolong news. Bitcoin first skyrocketed by 10%, reaching the $30,000 mark in one fell swoop. Unexpectedly, the market suddenly changed shortly after and dropped by $2,000. It turned out that the problem lay in an article about "BlackRock Bitcoin Spot ETF Approved" ” false news, although the official immediately jumped out to refute the rumor, but the market washout of both longs and shorts has already been staged, and investors who were overjoyed have also taken a roller coaster ride.
Oolong news triggers strong market turmoil
Returning to the crypto media that released the own news this time, although "Cointelegraph" did not publish a formal news article on its official website last night, it only posted a brief post on social media The SEC has approved the listing of iShares Bitcoin Trust (BlackRock Bitcoin Spot ETF)."
Although it remains to be confirmed whether the news is correct, Bitcoin has risen first, reaching as high as $30,000 at one time, until the "FOX" reporter checked with BlackRock and confirmed that it was false news. That is, about half an hour later, "Cointelegraph" The post was deleted , and Bitcoin "dived" to $28,000, giving up all its gains for a time.
Can you only consider yourself unlucky if your contract liquidates?
Due to the violent market fluctuations, many investors were caught off guard, resulting in a wave of liquidations of more than US$100 million in the derivatives market in a short period of time.
According to data from Coinglass, within an hour after Cointelegraph published its article, long positions worth more than $31 million were liquidated and short positions worth more than $81 million were liquidated; in the past 12 hours, the total number of Bitcoin liquidations has reached 137.2 million US dollars, of which the long liquidation amount was US$45.6 million and the short liquidation amount was US$91 million.
However, is this an accidental farce or market manipulation? Market doubts are still coming.
BlackRock CEO: Proving the market’s strong interest in cryptocurrencies
In response to this own news incident, although BlackRock CEO Larry Fink could not disclose the review progress of the Bitcoin spot ETF, he pointed out in an earlier interview that unconfirmed news alone can drive the price of Bitcoin to soar. , which proves that there is still a strong interest in cryptocurrencies in the market, but it has been temporarily suppressed, and he has realized and heard the strong demand for cryptocurrencies from customers around the world.
Larry Fink said:
I think today's rally is not entirely driven by rumors, but more because investors are pursuing high-quality assets. Currently surrounding the issues of the Israeli war and global terrorism, I think many people are pursuing High-quality safe-haven assets, whether it's Treasuries, gold or cryptocurrencies, depending on how you look at it? But I believe that cryptocurrencies will play this role.
According to data from CoinGecko, although Bitcoin fell a lot after the fake news was exposed, it still maintained a certain increase. At the time of writing, it was $28,300, an increase of 4% in the past 24 hours.
