Bitcoin ETF tweets and Vitalik’s car crash: How news real and fake moves crypto prices

Crypto itself may well be all it’s cracked up to be — a new paradigm to devour finance in much the same way that internet software has eaten the world over the past three decades.

Crypto markets meanwhile can be a hot mess. Rarely driven by fundamentals and often by hype, prices for digital assets can swing wildly depending on what’s spread across news and social media day-to-day.

We saw a taste of this earlier this week. A Matrixport analyst note throwing cold water on the widely-held belief that the SEC would soon approve the US’s first-ever spot bitcoin ETF correlated with a sudden 10% crash in the price of bitcoin (BTC).

The fall triggered a collapse across swathes of crypto…

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