Bitcoin soared but then pared back gains following a now-debunked rumor that the first amid a flurry of applications for a spot Bitcoin ETF had been approved by the Securities and Exchange Commission.
The cryptocurrency jumped 5.6%, to as high as $29,483, following the rumor published Monday morning, according to CoinGecko. It stopped just short of the $30,000 level, which Bitcoin hasn’t reached since August, but was still up about 4.9%, at $28,200, just before noon.
