It feels like something is finally happening in the crypto markets, whose famous volatility all but vanished in the past six months, only to be replaced by something that’s felt more like stagnation. During this time, Bitcoin has stayed mostly stuck in a sleepy band between $25,000 and $29,000.
On Monday, the action returned thanks to a screwy series of events. Trade publication Cointelegraph tweeted out “news” that the SEC had approved BlackRock’s application for a Bitcoin ETF, showing an alleged screenshot from Bloomberg’s authoritative news terminal. Bitcoin prices briefly shot up over $2,000 in response, suggesting a long-awaited rally was on its way.
