Analysts at Barclays say the market response to the false news from Monday on the BTC ETF approval is guidance on what is to come once real approval has been granted:
- we continue to see limited P&L benefit to Coinbase
- (but) we view this (the response to the false news) as an early read-through to how the market could react if and when an approval comes
ICYMI, the Monday false news was damaging to many traders caught by the plausible headlines:
Bitcoin update: