Fake News Sends Bitcoin’s Price Soaring in Minutes, and Gives a Taste of What’s To Expect When Bitcoin Spot ETFs Are Approved.

It will be massive!

Oct 17, 2023

∙ Paid

Yesterday morning, I was looking at a Bitcoin price chart showing why the Bitcoin price couldn't break the $28K barrier:

This chart showed us a veritable selling wall at the $28K level.

When you see this type of chart, you understand that some people don't want the price of Bitcoin to cross this price. Current market dynamics are influenced by such massive orders. Traders therefore spend an enormous amount of time keeping a close eye on it.

A fake news item published on the Cointelegraph X account broke the $28K short wall, triggering a cascade of liquidations of short Bitcoin positions:

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