A post falsely announcing that the SEC had approved a spot Bitcoin ETF caused $100 million in liquidations as the market briefly surged on the news. $81 million in short positions were liquidated as Bitcoin shot up to $30,000 from just under $28,000, and another $31 million in long positions were liquidated as the news turned out to be false.The post by crypto media outlet CoinTelegraph was based on a faked screenshot of what appeared to be the Bloomberg Terminal. The post quickly propagated through the crypto world before people began to question its veracity. CoinTelegraph later issued an apology, blaming the incident on a failure by employees to follow the normal editorial approval process.This adds to the list of incidents that illustrate the extent to which false reporting by traditional or crypto media, or by influential personalities, can move crypto markets. Past incidents have included a crypto Twitter personality tweeting the false rumor that Interpol had issued a red notice for Binance CEO Changpeng Zhao, and two instances of token price spikes based on false press releases claiming major corporations would accept the tokens as payment.