- Cryptocurrency proponents were reminded of what it's like to experience a bull market on Monday after an erroneous tweet from Cointelegraph incorrectly stated that the spot Bitcoin exchange-traded fund application by BlackRock was approved by the Securities and Exchange Commission , which caused BTC to spike to $30,000.
“This rally is way beyond rumor. The rally today is about a flight to quality with all these issues around the Israeli war,“ Fink said. “More people are running to flight to quality whether that’s on Treasuries, gold, or crypto.” Heine said the market “remains on edge awaiting final approval, and informed participants can now use the insights of the 'trial' run to position themselves.”
Waugh said that while Fink's “flight to safety” comments “suggest that Bitcoin is a safe-haven asset, the market's behavior doesn't necessarily support this view.”