Bitcoin posted a 3.42 percent gain on Tuesday, October 17, marking the highest single-day spike in the past two weeks. With this, the price of BTC has reached $28,175 (approximately Rs. 23.4 lakh). In the last 24 hours, the value of BTC has increased by $971 (approximately Rs. 80,817). This happened after crypto news publication Cointelegraph falsely claimed that a spot BTC ETF had been approved. Asset management firm BlackRock, along with other crypto community entities, quickly debunked this information, prompting Cointelegraph to issue an official apology.
Ether reflected a gain of 1.56 percent in the past 24 hours. ETH is currently trading at $1,588 (approximately Rs. 1.32 lakh). This marks a price increase of $26 (approximately Rs. 2,164) for ETH in the last 24 hours.
“Bitcoin price surged towards $30,000 (approximately Rs. 25.8 lakh) following a misleading post on X (formerly Twitter) from crypto news site Cointelegraph, which falsely claimed that Bitcoin ETF had been approved on the spot. This led to $100 million (approximately Rs. 832 crore) in liquidations. BlackRock and other sources immediately debunked the claim, and Cointelegraph later apologized for spreading inaccurate information. Subsequently, Bitcoin returned to $28,000 (approximately Rs. 24.4 lakh) and is currently slightly above that level,” the CoinDCX research team told Gadgets360.
We apologize for a tweet that led to the spread of inaccurate information about the Blackrock Bitcoin ETF.
An internal investigation is currently underway. We are committed to transparency and will share the investigation’s findings with the public as soon as it…
— Cointelegraph (@Cointelegraph) October 16, 2023
Other cryptocurrencies that posted gains today include Binance Coin, Ripple, Solana, Cardano, Dogecoin, Polygon, Tron and Litecoin.
Bitcoin Cash, Monero and Neo Coin also trade green coins.
The overall market rose 0.85 percent in the last 24 hours and now remains at the valuation of $1.09 trillion (approximately Rs. 90,69,617 crore) as CoinMarketCap showed.
“BlackRock’s iShares ETF filing sparked a wave of similar submissions from other asset managers such as WisdomTree, Invesco and Fidelity, promising a potential influx of investments. While some analysts expect a Bitcoin ETF by the end of the year, the SEC has made no official statements. Zcash (ZEC) and UMA (UMA) have been the biggest gainers on WazirX in the last 24 hours,” Rajagopal Menon, vice president of WazirX, told Gadgets360.
The cryptocurrencies that suffered losses today include Tether, USD Coin, Polkadot, Shiba Inu, Chainlink, Leo, Avalanche and Stellar.
Other altcoins trading in the red are Cosmos, Near Protocol and Elrond.
Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information contained in this article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
