BitcoinCHZCOMPIndustry Analysis

Bitcoin ETF Decision D-Day, SEC Fake Approval Announcement Sparks BTC/USD Volatility

41 Mins read

Bitcoin (BTC) Prices, Charts, and Analysis:

  • SEC fake X (tweet) shambles add to Bitcoin volatility.
  • Ethereum outperforms Bitcoin after months of losses.

Bitcoin (BTC/USD) Pumping Higher as SEC ETF Deadline Nears

The Bitcoin ETF decision process took a comical turn yesterday after a false SEC X hit the screens saying that the US regulator had approved a raft of ETFs, only to pull the announcement minutes later saying that their X account had been hacked.

SEC False X (Tweet)

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SEC Retraction

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The false announcement sent BTC/USD to within touching distance of $48k before the retraction sent Bitcoin tumbling back to the early $45k area. According to Coinglass data, over $93 million Bitcoin longs have been liquidated over the last 24 hours.

Coinglass Liquidation Data

The keenly awaited SEC decision is set to be announced today and more volatility can be expected. Bitcoin is currently trending lower ahead of the SEC’s decision.

Bitcoin One-Hour Price Chart

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The second-largest cryptocurrency by market capitalization, Ethereum, was seemingly unaffected by yesterday’s SEC drama and instead pushed higher over the session. Ethereum continues to gain against Bitcoin today, although a longer-term series of lower highs and lower lows remains in place.

ETH/BTC Daily Chart

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Charts via TradingView

What is your view on Bitcoin – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter .

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About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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