Bitcoin's price pulled back below the $45,000 mark on Tuesday, as the broader crypto market awaits news from the Securities and Exchange Commission about its ongoing review of more than a dozen applications for spot ETFs.

The price of the world's largest cryptocurrency by market capitalization declined by over 4% in the past 24 hours, reaching $44,933 at 9:20 a.m. ET, according to The Block's Price Page.

The bitcoin market has experienced a period of high volatility over the past 24 hours following a security breach of the SEC’s official X account on Tuesday, which resulted in a false message about the approval of a spot bitcoin ETF.

This post triggered volatile market action, causing the bitcoin price to surge to almost $48,000. However, once the agency clarified that the …