Bitcoin Spikes on SEC Approval of Spot ETFs, Then Pares Gains As ‘Buy Rumor, Sell News’ Plays Out
• Bitcoin and cryptocurrencies spiked and then pared back gains after SEC approved first spot Bitcoin ETFs • Crypto world cheers SEC’s move as an endorsement
• Price action suggested “buy the rumor, sell the news” dynamics were playing out
• Article states gains were less than impressive after ETF approval
• Full article requires a Barron's subscription to continue reading