From Investing.com:

Bitcoin (BTC) surged, putting 90% of holders in profit territory for the first time since November 2021, according to data from IntoTheBlock. The surge came after a false report of official approval for the first U.S. Bitcoin spot ETF, leading to price fluctuations.

The current price of Bitcoin is $45,488, representing a 2.25% decline in the past 24 hours. A hacker exploited a SIM swap attack to publish a misleading announcement on Twitter, falsely claiming regulatory approval of the Bitcoin ETF.

The false announcement triggered a surge in Bitcoin’s price to $47,901, before retracting. Representatives confirmed the post was the result of a security breach, highlighting the vulnerability of major platforms to sophisticated attacks.

Despite price fluctuations, around 90% of Bitcoin holding addresses are currently in profit, according to IntoTheBlock. This is seen as a bullish sign for the leading cryptocurrency and underscores the potential for sustained growth.

The surge in profitability could further attract institutional investors and strengthen Bitcoin’s position as a store of value. Despite navigating regulatory challenges and occasional volatility, the surge in profitability is a testament to the resilience of the cryptocurrency and the optimism prevailing among its dedicated community of investors.



Read more: Bitcoin (BTC) Surge Puts 90% of Holders in Profit Territory After Two Years By U.Today