🚀 Fake news about BlackRock's ETF caused a crypto "shark" to lose big:

🔹 According to on-chain data, a wealthy crypto investor lost $49,000 after trading errors due to false rumors about BlackRock's Bitcoin ETF application being approved.

🔹 As noted by Lookonchain analysts, an anonymous “shark” traded $613,201 USDC to buy 20.5 WBTC via 1Inch shortly after the news emerged.

🔹 Initially, Bitcoin price surpassed $29,000 after this information. However, when sources from Blackrock confirmed the news was fake, Bitcoin price quickly dropped to $28,000.

🔹 Ten minutes after the transaction, the "shark" sold back all of his BTC to convert to dollars, but only received $563,970 USDC. This means losing $49,000 in just 10 minutes.

🔹 Data from Glassnode shows that price fluctuations around the event caused hundreds of millions of dollars in Bitcoin futures value to be wiped out within an hour.

🔹 According to Coinglass, nearly 40,000 cryptocurrency traders have been liquidated in the past 24 hours.

🔹 BlackRock's approval would mark the first Bitcoin ETF available to US investors, which many suspect will attract billions of institutional dollars into BTC.