Mid-Month October Report: News That's Fake Can Still Make Markets Bake

Well the middle portion of October certainly ended up caused more of a surprise than just about anyone anticipated.

Yesterday morning, following a post by reputable publication Cointelegraph claiming that iShares' proposed ETF had been approved by the SEC, markets enjoyed a flash spike. Allegedly, a colleague at the company jumped a bit too fast on some rumored news, believing it was confirmed. This led to mass short liquidations, reported to have far surpassed $100M in value.

As a result of the post, social volume toward keywords like 'ETF', 'iShares', and '$30K' soared as a brief wave of euphoria washed over the markets, who were shocked to see the breakthrough many have waited for since the middle of the summer.

Bitcoin enjoyed a very brief moment high in the sun, surging above $30K for the first time in over 2