ETF approval announcement antics led to ‘legit’ market rally, says Yusko

The past week’s run of green crypto candles “started off in a funny way,” says Mark Yusko. An errant post on X announcing the US Securities and Exchange Commission’s approval of a spot bitcoin ETF was definitely “not a good look” for crypto media, he says. 

But more interestingly, the market’s response since the futures melting slip-up has been to steadily rally upwards. Bitcoin buying action again surpassed the psychological barrier of $30,000 on Friday and has continued climbing. 

The subsequent run-up returns to prices briefly seen during the fake-out spike that caused around $100 million in hourly liquidations. The Morgan Creek Capital founder says the volatile…

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