Bogus Bitcoin ETF confirmation from SEC social media account triggers market volatility

THE price of Bitcoin is down by more than 2% this morning as the market leader trades around $45,730.

Ethereum has gone the other direction, changing hands for around $2,400, and in the green by more than 5%. 

It’s mostly red among the large caps, with Solana, Polkadot, Avalanche and Cardano all seeing sell-offs. 

As the BTC ETF hype escalates, a misleading tweet appeared on the SEC's Twitter account last night, falsely stating the approval of all ETF applications.

Chair Gary Gensler promptly discredited the post, attributing it to an unauthorised user gaining account access. Bitcoin's price pulsed and plunged following the fake announcement.

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In the Markets

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Total crypto market cap

$1.7 trillion (-1.33%)

What Bitcoin did yesterday

 Daily high $47,880 |  Daily low $45,333

Bitcoin market capitalisation

$896.867 billion (-2.01%)

Bitcoin volume

$38.172 billion (-7.21%)

Ethereum staking entry queue

6 hours 52 minutes

SP500

-0.15%

Fear and Greed Index

72 (Greed) 

Bitcoin’s market dominance

54.54

Relative Strength Index (RSI)

64.59

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Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.

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