Bitcoin (BTC) open interest has recorded massive destruction after false reports claimed that the US Securities an Exchange Commission (SEC) had approved a BlackRock iShares BTC Sot ETF. Bitcoin responds to false Spot BTC ETF reports: Bitcoin (BTC) price peaked after a 10% rally during the early hours of the New York session, following news that the US SEC had approved the iShares Spot BTC ETF. The surge proved short-lived, however, on the back of confirmation that the news was false. {tweet} Despite confirmation, the damage was already done for perpetual traders that had opened short positions. Data from Coinglass ... (full story)