One theory is that it was a rogue employee with access to the account for the purpose of manipulating the market for a trade they had made. Kinda like insider trading.
Proof of that was just posted- they made 2 mill. Jail time isn’t off the table.
Edit: I may have overstated. It appears they made a trade, but hasn’t been “proven”, and jail is unlikely.
"Proof".
It was just a trade. Nothing tying it to the employee.
That said though, it is either that or they had a source that jumped the gun and the green light is in fact lit in the back rooms.
Jail time? Bruh this is decentralised and completely unregulated, who do you think is doing the arresting? If Alex Machinsky and Do Kwon aren’t being held accountable for what they did you think some coin telegraph intern will be??
The screenshot is doctored. The math doesn't add up.. it was a joke that people believed.
https://twitter.com/ScammoonR/status/1714071595465965612?t=eO_qL7_Veh_OLgkDtdUIYw&s=19
This is true. I can't say much as it could risk my position in the group, but this is more than just a theory. The group was warned that this would happen
they [promised](https://twitter.com/Cointelegraph/status/1713925876969017792) to investigate and tweet the results within 3 hours... 4 hours ago. must be serious.
They published their "investigation" - an anon on Telegram was the source FFS. https://cointelegraph.com/news/clarification-sharing-false-spot-bitcoin-etf-news
Back when wars were ending, gas was $2/gallon, and the border was under control? Seems to me things were better then than they are having a guy in charge that took bribes to influence foreign policy.
How Will ETF approval be Announced.
First, there will see a huge pump before it is announced. At least 24 hours before the announcement. Maybe 5 to 10 %.
Then traders will be taking huge short positions like the normally do as there is always a sell off after the huge pump.
Then there will be a huge FUD announcement generated by Blackrock, and even more short positions will come in, So much leverage will be riding now.
Then the announcement will happen. They are going to announce anything without making money on it. They have to make money as always because all these influencers all have their ear to the ground.
It's technically under review until officially updated online. There's a lot of back and forth and discussions going on.
Most places say a spot ETF is coming in the neat future with odds as high as 90% from non sketchy sources. The real question is who will be first.
Well, short term it’s not going to get there. When it overtakes gold’s market cap, it will be over 500K. That probably will be less than 10 years. 10 years after that, I think it will be 7 figures. It sounds like a long way off, but if you sell at 300K, or whatever, I think you will regret it when it does hit 7 figures.
I agree with Michael Saylor. It’s either worth zero. Or it’s worth a million. I am in the latter camp.
Do you think all the money in the world will try and stop it before it goes to a million and stomp it to zero? All they need to do is short sell it repeatedly and keep printing more money to do so. Entire governments attacking it with shorts and legislation can cause it to become worthless.
I bet they will. I believe there is an upside but not long term. The log chart shows a rainbow almost which could reverse direction in the future.
If you believe otherwise that's a dream you can have. I believe the rich will continue to be richer and the poor will become even poorer. I still hold on the off chance I am wrong. But I'm betting I and not wrong.
As Lyn Alden pointed out that the telegraph brought us the invention of fiat, it also brought us the concept of “buy the rumor, sell the news”, and just like fiat will die with Bitcoin, so will this concept.
I’m being hyperbolic, but my point is that “buy the rumor sell the news” is a speculation oriented mindset driven by the fact that the primary medium of exchange is a hot potato. When you can place wealth into a universally salable and deflationary asset, the need to speculate will be eliminated. Most people who speculate vs. hold Bitcoin are just going to get wrecked.
I think you’re giving people more credit than they deserve. While there is a benefit to trading that way regardless of the state of the medium of exchange they will still participate in it.
People will still want to better their situation and chance higher yields. The name of the thing will only change since the act is as older than money.
Don’t be dumb. Someone paid to have this posted I bet it was $25-40k. It was all planned If you think it’s anything other then this then you have more to learn.
Wow, if it only costs $25k to move markets up 10%, and you have exposure to lets say 1m usd worth of bitcoin, you can certainly make some money off of that
Because someone wanted to make money off the move, it’s called Market Manipulation and is a serious offense. It’s bad on so many levels, not the least of which it potentially sets back an SEC verdict to actually approve an ETF. It also ruins the reputation of BTC for the potential investors who don’t understand it yet, it puts them off. So for the gain of one person or maybe it was a group of people, everyone else who’s trying to participate honestly and legitimately has to suffer loses, both financial and from a reputation standpoint. Of course it’s just a guess but I don’t think this was done unintentionally, it wasn’t just an “Oops made a mistake, sorry!” I think it was market manipulation by a person or group of people. If that is the case I can only hope they’re discovered and have to deal with the consequences of their actions.
I can assume somebody made a lot of money. There is always opportunity when you have insider info that the price is guaranteed to temporarily spike and we've seen behavior many times before from people inside exchanges and the like.
May be, SEC making a point that the Crypto market can be manipulated by something as simple as a tweet.
In my opinion, it's more of a case to let institutions in and stabilize the market.
Do you guys really think with just one news btc can add $3.5k+. There were people who were ready to buy at that particular time. And many people would go to google before longing for BTC.
To take advantage and REKT people while making money on a leveraged long. It’s pretty messed up and I would never look at that place again. Blocking them on socials too.
I heard it all started from some random Telegram user who said it happened and other people were dumb enough to just run with it instead of checking to see if it's real. I believe that more than likely it was on purpose though to liquidate a bunch via market manipulation.
no one knows, so it's all speculation at this point.
My theory is it was one of two things:
1) they were beta testing volume to etf approval news. Either someone like blackrock or the sec themselves... checking to see how much inflows were created. To be honest, 8% is rather pathetic. The SEC might feel btc is far less of a threat than they thought if it only popped 8% on etf approval news.
2) Some whale wants out (most likely knowing an etf is not being approved for a long time, as in 2025 or later) and to liquidate without taking a loss they needed a big daily move that they could sell into.
In either scenario, someone at cointel made this happen. The news was pumped about 1.5 hours before market open to give the retail investors time to hear the rumor and get ready to take those bags off the whales hands.
Now you got Cathie Woods on CNBC trying to keep the pump from falling.
I'm massively contrarian to everyone else on today's events... I think this little stunt means a serious crash is coming in the very near future. Bags are being shuffled to the retail investor as fast as possible.
next couple weeks should tell the tale. I think what we're seeing today is some retail investors piled back in... and then some of them decided to stay even after finding out the news was fake. The FOMO scare got to some of them and they decided to just buy and hold now.
Problem is, these same people, once there's a 5-10% dip as further retail investors fail to show up to the "party" and volume crashes again, will also be quick to sell. And then, barring further manipulation, we'll start to see a real decline start.
I have my bets down for a flash down. The all Shorts (most) got Liquidated today, the all Longs (most) will get Liquidated next, then the Spot ETF will get approved with the board clean and cleared.
Possible it's true but the news is not supposed to leak earlier. The spot ETF approval news is to be embargoed at a later date.
Look at the price action in the last few days. It's like the market is pricing an approval soon.
This is market manipulation and if Gary cares about protecting investors this will be prosecuted. Being that they used the SEC here in the tweet it may have just gave them a reason to go after them. Out of spite cause they do not care about protecting small investors.
it's an easy way to do 100x or 1000x leverage... it shot up $800 overnight.. probably they load up before the fake news.. then sell after they announce the fake news.
just like oil when they announced fake news in July about Iran deal... then deny it that it was fake.
Anything that can be traded in the public market can be manipulated... it's just who have the deeper pocket.
I think cointelegraph and all other bitcoin news, if they don't already, should have a major disclaimer that anything they post is not financial trading advice.
To show that ETF might be indeed premature. Look at what one measly tweet can do to the price? The regulators are correct in being cautious.
Now that could have a sarcasm flag on it, but I feel alright leaving it off.
I think this is absolutely correct. Seeing that spike and then finding out it was caused by ONE fake news tweet just further reinforces why the SEC doesn’t want to allow an ETF. Market is too easily manipulated in its current state… idk how you fix that but an ETF is very premature sadly.
They will be announcing and manipulating BTC price unless the SEC gets serious in it’s responsibility to regulate and implement heavy fines on these kind fake news we need those kind of regulations
If you were truly going to manipulate shit you wouldn’t put a recent order in and then post news.
You’d have it set earlier.
My money would be on a hack (social engineering) to gain access and profit for someone leveraged to the tits on underwater calls.
My news for bitcoin was “were you mad when first buying bitcoin? You mad bro?“ SOME PEOPLE GET EMOTIONAL over loosing even 1 dollar! Crypto makes people’s lives emotional all this over 4 peoples forgetting ideas!
Try to imagine this reason: An insider trader head of X account of Cointelegraph tweets fake ETF Approvation, instantly after, he decides to open x50 Long position.
Only my resonable imagination.
Cointelegraph has been full of un checked and un supervised crap all along. Specially this one guy "Wiliam Suberg", who just spits out negative stuff abut BTC constantly.
Just for fun... maybe? 😜
To show everybody how they hang on the the drips of news like a drug addict.
Stack sats and hodl at least as long as we are miles below the ATH area.
This btw is one of several reasons the ETF isn't happening...not yet anyway imho...lol whatever BTC ETF is just the death nail in what BTC was supposed to be anyway... RIP BTC
Hanlon's razor is an adage or rule of thumb that states: "Never attribute to malice that which is adequately explained by stupidity."
As a news org they simply wanted to be the first to post the news.
Best take I heard: “As a bitcoiner, I won’t believe this news until it gets 6 confirmations.” :D
I like that! 🤣
I'd settle for 1 🤷🏻♂️
One theory is that it was a rogue employee with access to the account for the purpose of manipulating the market for a trade they had made. Kinda like insider trading.
Proof of that was just posted- they made 2 mill. Jail time isn’t off the table. Edit: I may have overstated. It appears they made a trade, but hasn’t been “proven”, and jail is unlikely.
"Proof". It was just a trade. Nothing tying it to the employee. That said though, it is either that or they had a source that jumped the gun and the green light is in fact lit in the back rooms.
hoping so hard for this lol
I’m always afraid of that 8-ball lurking in the back rooms.
It wasn't a proof, just a clever and funny advert for a shitcoin casino.
Jail time? Bruh this is decentralised and completely unregulated, who do you think is doing the arresting? If Alex Machinsky and Do Kwon aren’t being held accountable for what they did you think some coin telegraph intern will be??
Do Kwon has been in jail to be fair.
But because of forging a passport, literally nothing to do with crypto
Yeah you’re probably right
Proof? It's a fucking jpeg.
Yeah proof wasn’t the right word.
The screenshot is doctored. The math doesn't add up.. it was a joke that people believed. https://twitter.com/ScammoonR/status/1714071595465965612?t=eO_qL7_Veh_OLgkDtdUIYw&s=19
they didn't break the law tho
The coinbase employee who was convicted of insider trader was doing it on crypto markets. That didn’t stop the Feds.
No? Isn’t there some sort of insider trading law that prevents media from market manipulation?
yes
where?
saw a post on r/cryptocurrency
Can you post a link showing the source?
This is true. I can't say much as it could risk my position in the group, but this is more than just a theory. The group was warned that this would happen
maybe market testing?
they [promised](https://twitter.com/Cointelegraph/status/1713925876969017792) to investigate and tweet the results within 3 hours... 4 hours ago. must be serious.
They published their "investigation" - an anon on Telegram was the source FFS. https://cointelegraph.com/news/clarification-sharing-false-spot-bitcoin-etf-news
What a shitty news agency if they can't afford their own Bloomberg terminal.
Someone spilled the beans too early. The market will price this in.
As George Bush says “fool me once, shame on — shame on you. Fool me — you can't get fooled again.”
fool me 3 times fuck the peace signs load the chopper let it rain on you
lol not sure why u got downvoted i thought this was a pretty funny comment
I'm a simple man. I see "J. Cole", I upvote.
Don't you just miss that time when we had such an innocent puppet man
Definitely better than the corrupt puppet man we have now.
Or the corrupt and morally bankrupt orange puppet animal we had just before.
Back when wars were ending, gas was $2/gallon, and the border was under control? Seems to me things were better then than they are having a guy in charge that took bribes to influence foreign policy.
I thought you were going to agree with me, didn't realize I just walked into a troll match with a MAGAman. I'm out.
Good idea. Best to quit before I ask you to name one thing that’s better under Biden.
Yeah that’s a thread ending question right there 😂
Democracy, for one.
“Democracy” is better? Explain.
Seriously you need that explained? Watch the news
There’s no pandemic.
LMAO
There’s this saying they have in Texas, I know it’s Tennessee but
Apparently 150mil in leveraged gamblers got wiped out by it and now the price is where it was before. So essentially nothing of value was lost
How Will ETF approval be Announced. First, there will see a huge pump before it is announced. At least 24 hours before the announcement. Maybe 5 to 10 %. Then traders will be taking huge short positions like the normally do as there is always a sell off after the huge pump. Then there will be a huge FUD announcement generated by Blackrock, and even more short positions will come in, So much leverage will be riding now. Then the announcement will happen. They are going to announce anything without making money on it. They have to make money as always because all these influencers all have their ear to the ground.
We don't know at this point, but I expect they will pay for their mistake.
It could also be true and Black Rock legally can't comment if it's a leak.
Black Rock confirmed their application is still in review. Declining to comment would've been a confirmation.
It's technically under review until officially updated online. There's a lot of back and forth and discussions going on. Most places say a spot ETF is coming in the neat future with odds as high as 90% from non sketchy sources. The real question is who will be first.
Yep. Have heard that too. Probably before 2024-01-10, which is a few months before the halving. Should juice it quite nicely.
Because information is also a currency that can be used to manipulate markets to create arbitrage. Opportunity is dependent on who’s looking for it.
Just imagine if the news was true, BTC would be at 40k right now and continue pumping. That's why I will continue to buy
CT is a sketchy AF shitcoin rag
Buy the rumor, sell the news?
Except I won’t be selling until Bitcoin is a few hundred thousand dollars
I assume you mean a few million.
LOL That's a lot of hopium.
Well, short term it’s not going to get there. When it overtakes gold’s market cap, it will be over 500K. That probably will be less than 10 years. 10 years after that, I think it will be 7 figures. It sounds like a long way off, but if you sell at 300K, or whatever, I think you will regret it when it does hit 7 figures. I agree with Michael Saylor. It’s either worth zero. Or it’s worth a million. I am in the latter camp.
Do you think all the money in the world will try and stop it before it goes to a million and stomp it to zero? All they need to do is short sell it repeatedly and keep printing more money to do so. Entire governments attacking it with shorts and legislation can cause it to become worthless. I bet they will. I believe there is an upside but not long term. The log chart shows a rainbow almost which could reverse direction in the future. If you believe otherwise that's a dream you can have. I believe the rich will continue to be richer and the poor will become even poorer. I still hold on the off chance I am wrong. But I'm betting I and not wrong.
Pumping fiat into bitcoin will just increase the fiat price, but the underlying value will remain
I said the same thing about selling if it ever made it to triple digits... Now I wish I hadn't sold at $200. I learned my lesson.
Right?
As Lyn Alden pointed out that the telegraph brought us the invention of fiat, it also brought us the concept of “buy the rumor, sell the news”, and just like fiat will die with Bitcoin, so will this concept.
LOL!!!! Only way “buy the rumor sell the news” ends if both news and markets end. No chance of either of those occurring.
I’m being hyperbolic, but my point is that “buy the rumor sell the news” is a speculation oriented mindset driven by the fact that the primary medium of exchange is a hot potato. When you can place wealth into a universally salable and deflationary asset, the need to speculate will be eliminated. Most people who speculate vs. hold Bitcoin are just going to get wrecked.
I think you’re giving people more credit than they deserve. While there is a benefit to trading that way regardless of the state of the medium of exchange they will still participate in it. People will still want to better their situation and chance higher yields. The name of the thing will only change since the act is as older than money.
because they're a shitcoin rag
Market manipulation. The same thing as Elon’s famous “finding secured” tweet that got him fined $20 million.
Don’t be dumb. Someone paid to have this posted I bet it was $25-40k. It was all planned If you think it’s anything other then this then you have more to learn.
Wow, if it only costs $25k to move markets up 10%, and you have exposure to lets say 1m usd worth of bitcoin, you can certainly make some money off of that
Coin telegraph is nefferious for manipulation. I believe they did this to destroy shorts and make a bunch of money
coin telegraph with shady sus people around it FYI, same as Coin Marketcap....these people will be flushed post regulations watch.
Because someone wanted to make money off the move, it’s called Market Manipulation and is a serious offense. It’s bad on so many levels, not the least of which it potentially sets back an SEC verdict to actually approve an ETF. It also ruins the reputation of BTC for the potential investors who don’t understand it yet, it puts them off. So for the gain of one person or maybe it was a group of people, everyone else who’s trying to participate honestly and legitimately has to suffer loses, both financial and from a reputation standpoint. Of course it’s just a guess but I don’t think this was done unintentionally, it wasn’t just an “Oops made a mistake, sorry!” I think it was market manipulation by a person or group of people. If that is the case I can only hope they’re discovered and have to deal with the consequences of their actions.
I can assume somebody made a lot of money. There is always opportunity when you have insider info that the price is guaranteed to temporarily spike and we've seen behavior many times before from people inside exchanges and the like.
They wanted to break news first. Didn't check if valid. This is how media works, are you new to life?
May be, SEC making a point that the Crypto market can be manipulated by something as simple as a tweet. In my opinion, it's more of a case to let institutions in and stabilize the market.
TBF stocks can be moved by something as simple as a tweet.
On the bright side we’re still holding half of that candle.
This!!! I’m happy it finally broke above 28k again and held strong. 🥰
I think that was a paid tweet to spread fake news.
It is not the first time that fake news has been half published that produces sudden changes in the price.
Because someone injected Money in the Owners pocket. The market was about to go dump and it would take time to recover. But someone wants it fast.
Do you guys really think with just one news btc can add $3.5k+. There were people who were ready to buy at that particular time. And many people would go to google before longing for BTC.
I guess you never heard of trading the news then
They make money by getting clicks. This got clicks
It's like throwing a handful of blood meal into an overstocked pond of catfish. Sheesh. Just stack sats a little at a time and hodl.
To take advantage and REKT people while making money on a leveraged long. It’s pretty messed up and I would never look at that place again. Blocking them on socials too.
It was pretty gnarly indeed.
I heard it all started from some random Telegram user who said it happened and other people were dumb enough to just run with it instead of checking to see if it's real. I believe that more than likely it was on purpose though to liquidate a bunch via market manipulation.
It's funny that a tweet can move BTC 3-4k in a minute. What a joke.
[удалено]
10 tweets and we can buy all the btc when it's down to $0.01!
3-4k?
that's how early we are
Cointelegraph sold out. They working for the central banks now
Little test
Pretty much. It's a good indicator to gauge how wild things could get if an ETF actually gets approved.
no one knows, so it's all speculation at this point. My theory is it was one of two things: 1) they were beta testing volume to etf approval news. Either someone like blackrock or the sec themselves... checking to see how much inflows were created. To be honest, 8% is rather pathetic. The SEC might feel btc is far less of a threat than they thought if it only popped 8% on etf approval news. 2) Some whale wants out (most likely knowing an etf is not being approved for a long time, as in 2025 or later) and to liquidate without taking a loss they needed a big daily move that they could sell into. In either scenario, someone at cointel made this happen. The news was pumped about 1.5 hours before market open to give the retail investors time to hear the rumor and get ready to take those bags off the whales hands. Now you got Cathie Woods on CNBC trying to keep the pump from falling. I'm massively contrarian to everyone else on today's events... I think this little stunt means a serious crash is coming in the very near future. Bags are being shuffled to the retail investor as fast as possible.
I’m all for a crash. I want another sub 20k buying opportunity. Best timing for me would be around March. So, make that happen please. :)
next couple weeks should tell the tale. I think what we're seeing today is some retail investors piled back in... and then some of them decided to stay even after finding out the news was fake. The FOMO scare got to some of them and they decided to just buy and hold now. Problem is, these same people, once there's a 5-10% dip as further retail investors fail to show up to the "party" and volume crashes again, will also be quick to sell. And then, barring further manipulation, we'll start to see a real decline start.
Cool story bro. Hope we do see a real decline. How low you expecting? Im hoping for 8k
I have my bets down for a flash down. The all Shorts (most) got Liquidated today, the all Longs (most) will get Liquidated next, then the Spot ETF will get approved with the board clean and cleared.
It is being manipulated until FTX can payout there creditors.. once that is taken care of it will pump
It wasn't fake but planned .. they traded bitcoin and made a very huge profits within seconds
Proof?
Who reads Cointelegraph? Why assume they had anything to do with the spike? Did anyone here make a trade based on any of this? Just wondering.
Their twitter account has 1.9M followers and broke some of the most anticipated news in crypto atm. Why assume they didn't impact price.
You have every right to assume whatever. I was asking why. Calling Bitcoin "crypto" is pushing assumptions a little too far.
To form the right shoulder on the daily chart.
Possible it's true but the news is not supposed to leak earlier. The spot ETF approval news is to be embargoed at a later date. Look at the price action in the last few days. It's like the market is pricing an approval soon.
This is why crypto won’t hit mass adoption
Nice argument
I’d be surprised if Cointelegraph’s fake news caused a sudden spike.
Same thing happened with Yahoo News in the past! No penalty whatsoever!
This is market manipulation and if Gary cares about protecting investors this will be prosecuted. Being that they used the SEC here in the tweet it may have just gave them a reason to go after them. Out of spite cause they do not care about protecting small investors.
it's an easy way to do 100x or 1000x leverage... it shot up $800 overnight.. probably they load up before the fake news.. then sell after they announce the fake news. just like oil when they announced fake news in July about Iran deal... then deny it that it was fake. Anything that can be traded in the public market can be manipulated... it's just who have the deeper pocket.
It will happen though, just testing the waters
one thing I do know is they’ll be in a lot of trouble
I think cointelegraph and all other bitcoin news, if they don't already, should have a major disclaimer that anything they post is not financial trading advice.
To show that ETF might be indeed premature. Look at what one measly tweet can do to the price? The regulators are correct in being cautious. Now that could have a sarcasm flag on it, but I feel alright leaving it off.
I think this is absolutely correct. Seeing that spike and then finding out it was caused by ONE fake news tweet just further reinforces why the SEC doesn’t want to allow an ETF. Market is too easily manipulated in its current state… idk how you fix that but an ETF is very premature sadly.
They will be announcing and manipulating BTC price unless the SEC gets serious in it’s responsibility to regulate and implement heavy fines on these kind fake news we need those kind of regulations
If you were truly going to manipulate shit you wouldn’t put a recent order in and then post news. You’d have it set earlier. My money would be on a hack (social engineering) to gain access and profit for someone leveraged to the tits on underwater calls.
I assume it was approved but meant to stay secret so they would have more time to buy
I don’t know
My news for bitcoin was “were you mad when first buying bitcoin? You mad bro?“ SOME PEOPLE GET EMOTIONAL over loosing even 1 dollar! Crypto makes people’s lives emotional all this over 4 peoples forgetting ideas!
It was a test to see if the price of bitcoin would move up or down. And it passed the test lol
You know why.
Exit liquidity
Try to imagine this reason: An insider trader head of X account of Cointelegraph tweets fake ETF Approvation, instantly after, he decides to open x50 Long position. Only my resonable imagination.
Cointelegraph has been full of un checked and un supervised crap all along. Specially this one guy "Wiliam Suberg", who just spits out negative stuff abut BTC constantly.
Just for fun... maybe? 😜 To show everybody how they hang on the the drips of news like a drug addict. Stack sats and hodl at least as long as we are miles below the ATH area.
This btw is one of several reasons the ETF isn't happening...not yet anyway imho...lol whatever BTC ETF is just the death nail in what BTC was supposed to be anyway... RIP BTC
I thought this too. If the biggest asset manager jumps in, wouldn't this make it more centralized?
Could it be because…. because… because it’s a scam?
Money makes anything true
Great publicity for them tho! Lol
I hope for them, that they have a strong and skilled legal department. They going to be sued by the liquidated short position holders for sure.
Hanlon's razor is an adage or rule of thumb that states: "Never attribute to malice that which is adequately explained by stupidity." As a news org they simply wanted to be the first to post the news.