Why does this false information make everyone so excited?
Because this will allow Bitcoin and the entire cryptocurrency to receive more mainstream adoption, institutional investment, better liquidity, etc.
There is no doubt that the fabricators of the false information must have known about it, guessed how the market would react, and may have made some kind of bet before it happened, based on which this case may be labeled "market manipulation."
Whether this was a group hoping to profit from a knee-jerk reaction, a deliberate act by traders on Telegram, or a mistake by Cointelegraph’s interns is still unclear and Cointelegraph is still investigating.
In any case, this incident has raised people's attention to the authenticity of crypto news sources. In addition, SEC Chairman Gary Gensler must have noticed this incident and may regard this story as an example of potential market manipulation in the field, which will bring a certain degree of difficulty to the approval of spot ETFs.
However, there is no need to be completely discouraged. The outcome of things is often what people want. The passage of the ETF will change the rules of the game for the legalization of cryptocurrencies in the United States. It will reduce the operational risks of holding BTC, comprehensively improve the level of cryptocurrency education, and pave the way for the addition of products such as spot ETH ETFs in the future.
Please remain cautious about crypto news in the future, as this incident may be the beginning of speculation.
