{"id":24034,"date":"2023-10-17T09:54:23","date_gmt":"2023-10-17T09:54:23","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/fake-news-rocks-crypto-market-larry-fink-is-bullish\/"},"modified":"2023-10-17T09:54:23","modified_gmt":"2023-10-17T09:54:23","slug":"fake-news-rocks-crypto-market-larry-fink-is-bullish","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/fake-news-rocks-crypto-market-larry-fink-is-bullish\/","title":{"rendered":"Fake News Rocks Crypto Market, Larry Fink Is Bullish"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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The crypto world experienced a whirlwind of activity following the dissemination of incorrect news about BlackRock\u2019s Bitcoin ETF by Cointelegraph on October 16.<\/p>\n

CoinMarketCap<\/a> showed surge in global crypto market value to $1.12 trillion at a price per BTC<\/a> of over $39.388<\/strong> soon after the erroneous news went live. Notably, this value marked a two-week high. This surge also saw the 24-hour trading volume in the digital currency space hitting roughly $63 billion. However, the high didn\u2019t last. Once BlackRock dismissed the news of their ETF approval, the market plummeted, reducing the global market value to a mere $1.08 trillion at $27,855 per coin<\/strong>. At press time, the flagship cryptocurrency is trading at $28,455.<\/p>\n

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Cointelegraph was quick to retract and apologize for their mistake, pledging to delve into the reasons behind the misreporting.<\/p>\n

On the Derivatives Front<\/h2>\n

Following the misinformation, many traders faced significant losses, with Bitcoin derivatives taking a major hit. Trading platforms like Binance, Bybit, and OKX were especially affected. The result? A rough estimation of $74 million lost. Many traders saw their positions in derivatives forcibly liquidated. According to Coinalyze, post the steep drop in the market, short positions amounting to $56.6 million faced liquidation. Concurrently, long positions to the tune of $18.4 million were closed. Out of the liquidated short positions, a hefty $51 million originated from perpetual futures from exchanges such as OKX, Binance<\/a>, and ByBit<\/a>.<\/p>\n

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BlackRock CEO\u2019s Statement<\/h2>\n

Larry Fink, the CEO of BlackRock, did address the speculations surrounding the Bitcoin ETF. Speaking to FOX News, he said, \u201cI can\u2019t talk about the specifics of anything, I think it\u2019s just an example of the pent-up interest in crypto. We are hearing from clients around the world about the need for crypto.\u201d<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) The crypto world experienced a whirlwind of activity following the dissemination of incorrect news about BlackRock\u2019s Bitcoin ETF by Cointelegraph on October 16. CoinMarketCap showed surge in global crypto market value to $1.12 trillion at a price per BTC of over $39.388 soon after the erroneous […]<\/p>\n","protected":false},"author":5,"featured_media":24035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24034"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24034"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24034\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24035"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}