Institutional interest in the cryptocurrency space remains fairly strong, with funds attracting $103 million in the buildup to a major spot ETF decision.
Read more on: https://thecryptobasic.com/2023/12/25/bitcoin-ethereum-and-solana-investment-products-see-103m-inflows-ahead-of-etf-decision/
#BitcoinETFs! #BitcoinETFUpdate #BitcoinETFLaunch #CryptoTechRevolution #CryptonewswithJack

1. The SEC's Twitter account experienced a security breach, leading to the dissemination of a false statement about ETF approval.
2. X points out the surprising absence of fundamental security measures on the official SEC account, raising concerns among observers.
3. The cryptocurrency market witnessed significant volatility, with Bitcoin and Ethereum prices experiencing sharp fluctuations before stabilizing post the debunking of the fake news.
4. Divergent opinions among analysts emerged, with some attributing the incident to a genuine hack, while others suspect intentional manipulation by the SEC or an external entity.
5. The dissemination of false information is expected to cause delays in the approval process for eagerly awaited Bitcoin ETFs.

On Tuesday, January 9, 2024, the U.S. Securities and Exchange Commission's (SEC) official X account unexpectedly went live and announced the authorization of bitcoin exchange-traded funds (ETFs) on all regulated national securities exchanges. The cryptocurrency market reacted dramatically, witnessing a surge in Bitcoin's price followed by a sharp decline.
Shortly after the post, the SEC deleted it, claiming the account had been hacked, and the announcement was fake. Speculation and discussion flooded the internet, questioning the implications of the agency, responsible for safeguarding investors, being at the center of a major Bitcoin manipulation attempt.
The SEC's compromised X account, with over 1.2 million followers, played a significant role in disseminating information to the public. The fake tweet, featuring the SEC logo and a statement attributed to Gensler, circulated widely before being taken down.
SEC Chair Gensler clarified from his official account that the SEC's X account was compromised, and the post was unauthorized. Surprisingly, the SEC account did not have two-factor authentication activated during the hack, adding a layer of controversy to the incident.
Market repercussions were swift, with Bitcoin's price peaking at $48,000 before plummeting to less than $45,000. Ethereum and the overall crypto market cap also experienced fluctuations, resulting in substantial liquidations on both long and short Bitcoin trades across multiple exchanges.
Analysts and industry figures expressed diverse opinions on the incident. Criticism was directed at the SEC, with figures like Nick Tomaino and Jack Dorsey questioning the legitimacy of the hack. The CEO of Moralis, Ivan, even raised the possibility of the SEC having "hacked itself." Speculation regarding a potential planned tweet with a wrong date added another layer of complexity to the situation.
In conclusion, the true nature of the SEC's fake announcement remains uncertain. This incident is likely to cast a shadow on future ETF approvals, leaving the crypto community in suspense and emphasizing the volatile nature of the cryptocurrency market. It is crucial for investors to conduct thorough research and exercise caution given the unpredictability of the crypto landscape.

#SEC #BitcoinETFs! #BTCETF #BitcoinETF #BitcoinETFUpdate
$BTC

The amount of institutional capital bullish on BTC has hit a new all-time high as the deadline for spot Bitcoin ETF decision approaches.
Read more on: https://thecryptobasic.com/2023/12/28/bitcoin-futures-smart-money-index-hits-all-time-high-ahead-of-etf-decision/
#BitcoinIsBullish #BitcoinETFUpdate #Cryptocurrrency #Cryptocurrency.traders #CryptoNews🔒📰🚫