Crypto market sees massive ‘pump and dump’ amid fake Bitcoin ETF news
The cryptocurrency ecosystem witnessed “pump and dump” after false news around the BlackRock Bitcoin (BTC) spot exchange-traded fund (ETF) emerged on Oct. 16. According to CoinMarketCap (CMC), the global crypto market capitalization reached a two-week high of $1.12 trillion just a few minutes after Cointelegraph shared the fake news of the iShares BTC ETF approval. Crypto market cap briefly touching $1.12b | Source: CoinMarketCap The 24-hour trading volume of the digital currency market also reached a local top of around $63 billion. However, after BlackRock officially denied the approval of its ETF application, the crypto ecosystem witnessed a sudden deep dive. You might also like: Genesis ordered to comply with subpoena in TerraUSD collapse case Consequently, the global market capitalization dropped to $1.08 trillion shortly, with the 24-hour market trading volume currently standing at $61 billion. According to crypto.news report on Oct. 16, YouTube crypto an...