BTC/USD: Bitcoin volatile on false SEC approval of ETF

<p><a href="https://api.addthis.com/oexchange/0.8/forward/facebook/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Fcrypto%2Fbtc-usd-bitcoin-volatile-on-false-sec-approval-of-etf%2Femoya&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/facebook.png" border="0" alt="Facebook" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/twitter/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Fcrypto%2Fbtc-usd-bitcoin-volatile-on-false-sec-approval-of-etf%2Femoya&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/twitter.png" border="0" alt="Twitter" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/email/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Fcrypto%2Fbtc-usd-bitcoin-volatile-on-false-sec-approval-of-etf%2Femoya&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/email.png" border="0" alt="Email" /></a></p><ul>
<li>CoinGlass reported that $72 million worth of short positions were liquidated on the spike higher from the false SEC approval news</li>
<li>US Government holds around 200,000 bitcoins, worth over $5 billion</li>
<li>SEC refrains from asking court to change decision on Grayscale bitcoin ETF</li>
</ul>
<p>Bitcoin’s surge above $30,000 quickly disappeared after Blackrock refuted earlier reports that the SEC approved their spot Bitcoin ETF.  Cointelegraph earlier tweeted a Bitcoin ETF was approved and has since issued an apology and announced an internal investigation.  Blackrock was quick to correct the misinformation on CNBC.</p>
<p><a href="https://www.marketpulse.com/wp-content/uploads/2023/10/False-Bitcoin-SEC-approval-2023-10-16-4-10-30-PM.jpg"><img loading="lazy" class="alignnone size-full wp-image-808154" src="https://www.marketpulse.com/wp-content/uploads/2023/10/False-Bitcoin-SEC-approval-2023-10-16-4-10-30-PM.jpg" alt="" width="533" height="237" srcset="https://www.marketpulse.com/wp-content/uploads/2023/10/False-Bitcoin-SEC-approval-2023-10-16-4-10-30-PM.jpg 533w, https://www.marketpulse.com/wp-content/uploads/2023/10/False-Bitcoin-SEC-approval-2023-10-16-4-10-30-PM-300×133.jpg 300w" sizes="(max-width: 533px) 100vw, 533px" /></a></p>
<p>Bitcoin is still higher by 4.5% on the day as optimism remains that Bitcoin is still getting close to that elusive SEC spot Bitcoin approval. Bitcoin has been trapped in a frustrating range since the spring.  Crypto adoption has struggled and competition from Central Bank Digital Currencies are growing.</p>
<p><a href="https://www.marketpulse.com/wp-content/uploads/2023/10/BTCUSD_2023-10-16_16-19-28.png"><img loading="lazy" class="alignnone size-large wp-image-808155" src="https://www.marketpulse.com/wp-content/uploads/2023/10/BTCUSD_2023-10-16_16-19-28-1024×570.png" alt="" width="700" height="390" srcset="https://www.marketpulse.com/wp-content/uploads/2023/10/BTCUSD_2023-10-16_16-19-28-1024×570.png 1024w, https://www.marketpulse.com/wp-content/uploads/2023/10/BTCUSD_2023-10-16_16-19-28-300×167.png 300w, https://www.marketpulse.com/wp-content/uploads/2023/10/BTCUSD_2023-10-16_16-19-28-768×427.png 768w, https://www.marketpulse.com/wp-content/uploads/2023/10/BTCUSD_2023-10-16_16-19-28-1536×854.png 1536w, https://www.marketpulse.com/wp-content/uploads/2023/10/BTCUSD_2023-10-16_16-19-28.png 1634w" sizes="(max-width: 700px) 100vw, 700px" /></a></p>
<p> </p>
<p> </p>