Momentarily $30K is reached by Bitcoin on a false ETF approval report that causes $100M in liquidations.

News Desk5
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CoinGlass data shows that $72 million worth of short positions were liquidated on the move to $30,000 and $31 million in longs were liquidated during the correction.

Bitcoin (BTC) surged from $27,900 to $30,000 after a false report of a spot ETF approval was posted on Twitter, leading to more than $100 million in liquidations in the past hour.

Bitcoin has since fallen from $30,000 to $28,000 following skepticism from analysts and reporters. BlackRock confirmed to that the report is false.

The SEC website shows no approvals for a spot bitcoin ETF. Bloomberg also reported that the the BlackRock application is still under review.

It was reported last week that the SEC won’t appeal the loss in its case against Grayscale, which is thought to boost the chances of GBTC eventually being converted to a spot ETF.

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