Bitcoin rose 4.3% on Tuesday, testing two-month highs after a fake report was posted on X/Twitter about the approval of a major exchange-traded fund (ETF).
The price of the cryptocurrency spiked from under US$28,000 to almost US$30,000 on the report, before quickly evaporating as the tweet about Blackrock’s iShares Bitcoin ETF was deleted, though the momentum remained slightly positive for the rest of the session.
A day earlier, the positivity rested on hopes that an ETF from Grayscale was close to gaining approval, after the US Securities and Exchange Commission (SEC) said it would not appeal a court ruling, according to newswire reports on Friday.
BlackRock has meanwhile confirmed that the SEC has not approved its spot bitcoin ETF application.
Bitcoin remains down 5% over three months
The second-largest cryptocurrency, ethereum (ETH), was up 0.2% at US$1,586.
Week on week, bitcoin is up 2.5%, while ether is down 0.36%.
In the broader altcoin space, solana is up 8.9% and tron up 2.4%, while XRP is down 1.5% and cardano 0.7% lower.
Global cryptocurrency market capitalisation currently stands at US$1.06 trillion, with bitcoin dominance at 49.83%.