Bitcoin Plunges After 'Compromised' SEC Twitter Account Tweets Fake ETF Approval - Decrypt

01/09/2024 21:49
Bitcoin Plunges After 'Compromised' SEC Twitter Account Tweets Fake ETF Approval - Decrypt

Bitcoin briefly hit a two-year high after apparent news of a spot ETF approval, but the price fell sharply after it was revealed to be false.

The price of Bitcoin swung wildly Tuesday afternoon after the United States Securities and Exchange Commission (SEC) tweeted that a long-awaited spot Bitcoin ETF had been approved—but then SEC Chair Gary Gensler tweeted that the account had actually been compromised and that no Bitcoin ETFs have actually been given the green light.

Bitcoin bounced from a price of about $46,600 to $47,680 in a matter of minutes Tuesday, marking what appears to be a two-year high for the leading cryptocurrency. However, the price quickly plunged to nearly $45,500, and has since settled just under $46,000.

This story is breaking and will be updated with additional information.

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