Those tweets caused bitcoin prices to immediately spike to $47,680 from the $46,800 level. It then fell as low as $45,400 as the tweets were found to be fake
Price volatility following a series of fake tweets from the U.S. Securities and Exchange Commission (SEC)’s X account caused nearly $90 million worth of bitcoin (BTC) long and short positions to be liquidated, showcasing manipulation risks associated with the industry. Hackers caught hold of SEC’s X account on Tuesday, using it to post a nod for the much-awaited bitcoin exchange-traded fund (ETF) approval decision. It later posted “$BTC ,” before both tweets were promptly deleted.
Those tweets caused bitcoin prices to immediately spike to $47,680 from the $46,800 level. It then fell as low as $45,400 as the tweets were found to be fake. Punters and automated bots, however, reacted quickly to the tweets. Over $500 million in futures positions were opened in a ten-minute period following the initial post, data shows. But the highly-levered positions took a hit as prices whipsawed: Some $50 million in longs were liquidated while $36 million in shorts were impacted
Final Bitcoin ETF Application Filings Get Posted by Major U.S. Exchanges
U.S. spot bitcoin exchange-traded funds (ETFs) appear to be on the verge of launching after the exchanges that will list them filed amended documents, suggesting they expect U.S. Securities and Exchange Commission approval in the coming days.The amended 19b-4 filings, filed on behalf of #BTC #ETFApprovalDreams and issuers, join last month's amended S-1 filings, addressing feedback from the U.S. Securities and Exchange Commission (SEC). More than a dozen applicants hope to launch the first spot