From Investing.com:

Social media platform X (formerly Twitter) confirmed the SEC’s account was compromised, resulting in a fake post about approving a spot bitcoin ETF. Chair Gary Gensler promptly clarified the tweet was “unauthorized,” disinflating a brief bitcoin price spike. SEC is expected to disclose its decision on applications for a spot bitcoin ETF this week.
Bitcoin prices surged to nearly $48,000 after the fake SEC post but traded down 1.8% at $46,109.7 after clarification. However, the world’s largest cryptocurrency saw considerable speculation around SEC’s potential approval of a spot-traded bitcoin ETF, prompting ETF applications from BlackRock Inc and Wisdomtree.
Critics and proponents are divided over the impact of an approved spot bitcoin ETF, with some arguing it will draw in widespread institutional capital and others doubting it will significantly enhance investor interest. The broader crypto industry has been dealing with a loss of faith with trading volumes, particularly in bitcoin, well below levels seen during a bull run in 2021.



Read more: X confirms SEC account was compromised in bitcoin ETF debacle By Investing.com