When rumors circulate about potential Bitcoin ETF approval, market liquidity experiences a notable uptick, driven largely by anticipatory behavior. Retail investors, eager to get in on what they perceive as a ground-floor opportunity before mainstream adoption, flood exchanges with buy orders, injecting significant spot market liquidity. This increased demand can temporarily outpace supply, leading to price appreciation. Concurrently, the rumor signals potential legitimacy to institutional players, who might begin allocating capital to Bitcoin futures or other derivatives, adding liquidity to those markets as they position themselves for the ETF launch.