{"id":175713,"date":"2023-10-17T14:16:21","date_gmt":"2023-10-17T08:46:21","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=175713"},"modified":"2023-10-17T14:16:21","modified_gmt":"2023-10-17T08:46:21","slug":"fake-blackrock-etf-news-prompts-us57-mln-in-bitcoin-long-liquidations-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/fake-blackrock-etf-news-prompts-us57-mln-in-bitcoin-long-liquidations-crypto-news\/","title":{"rendered":"Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Over US$57 million worth of Bitcoin long positions have been liquidated in the 24 hours leading up to 2:40 p.m. in Hong Kong after a post on X (formerly Twitter) falsely claimed that the Securities and Exchange Commission (SEC) approved BlackRock\u2019s spot exchange-traded fund (ETF).<\/p>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/weekly-market-wrap-bitcoin-falls-below-us27000-cpi-israeli-conflict\/\">Weekly Market Wrap: Bitcoin falls below US$27,000 following CPI and Israeli conflict<\/a><\/p>\n<h3 class=\"wp-block-heading\">Fast Facts<\/h3>\n<ul>\n<li>While the false post was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Cointelegraph\/status\/1713925876969017792\">deleted<\/a> in less than 30 minutes, it was mistakenly reported as fact by crypto news outlet Cointelegraph, sparking a flurry of trading.<\/li>\n<\/ul>\n<ul>\n<li>The US$57.15 million worth of total long position liquidations included US$13.6 million in the first hour alone, according to crypto futures market data provider <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass<\/a>.<\/li>\n<\/ul>\n<ul>\n<li>The fake post initially boosted Bitcoin\u2019s price to a two-month high of US$29,388, with US$52.63 million worth of short positions liquidated in the hour leading up to 9:00 p.m. in Hong Kong Monday.<\/li>\n<\/ul>\n<ul>\n<li>That brings the amount of total liquidations to US$154.4 million in the past 24 hours, with US$97.07 million of those in short positions.<\/li>\n<\/ul>\n<ul>\n<li>Liquidation refers to an exchange forcefully closing a trading position due to a partial or total loss of the trader\u2019s initial margin.<\/li>\n<\/ul>\n<ul>\n<li>Many believe that SEC approval of a spot Bitcoin ETF for the U.S. will be a watershed moment for crypto, as it would theoretically open the door for an influx of institutional investment into the industry.<\/li>\n<\/ul>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/blackrock-shares-go-digital-jpmorgans-onyx-blockchain\/\">BlackRock shares go digital on JPMorgan\u2019s Onyx blockchain<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Over US$57 million worth of Bitcoin long positions have been liquidated in the 24 hours leading up to 2:40 p.m. in Hong Kong after a post on X (formerly Twitter) falsely claimed that the Securities and Exchange Commission (SEC) approved BlackRock\u2019s spot exchange-traded fund (ETF). See related article: Weekly Market Wrap: Bitcoin falls below US$27,000 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":153586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-175713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=175713"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175713\/revisions"}],"predecessor-version":[{"id":175715,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175713\/revisions\/175715"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/153586"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=175713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=175713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=175713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}