Bitcoin's price briefly surged towards $30k on Monday due to heightened volatility caused by a piece of fake news claiming that the SEC had approved BlackRock's spot Bitcoin ETF. However, the news was quickly debunked, and the price has since stabilized around $28.2k. The incident resulted in over $111 million being liquidated from the Bitcoin market in the past 24 hours, causing damage to leverage traders. Despite this, crypto traders are eagerly awaiting a spot ETF approval in the United States, which could open up new investment opportunities for institutional investors.
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