From Nasdaq:

Cryptocurrencies experienced significant fluctuations Tuesday due to a false SEC tweet about the approval of spot Bitcoin ETFs. Bitcoin reached a 19-month high of $47,900 after the tweet but swiftly dropped almost 6.05%, plunged to $45,000 and SEC Chair Gary Gensler denied the news. Wild price fluctuations led to $214 million in liquidated positions, and the global cryptocurrency market cap jumped 5.29% in the past 24 hours. S&P 500 recovered but still closed with slight losses. There are two crucial inflation reports to be released by the Federal Reserve: the December consumer price index on Thursday, followed by the producer price index on Friday. Cryptocurrency analyst Michael Van de Poppe confirmed the news was false and the market experienced mayhem. According to pseudonymous trader Capo, the potential approval of a spot Bitcoin ETF expected to trigger a brief surge in the value of Bitcoin and other digital assets. Additionally, on-chain analyst Ali Martinez has noted that the TD Sequential is flashing a sell signal on the BTC weekly chart. Well, we’ve got fake news on the Bitcoin ETF approval for the third time. This time a hack on the SEC account.AlgorithmExceptionBinaryDecision treeFlaskBlock cipherEncryptionKey derivation function.more_vert The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



Read more: Bitcoin, Ethereum, Dogecoin Drop After Fake News Of Spot ETF Approval — $200M Worth of Liquidations Follow: Analyst Warns Of Fakeout Rallies, Looming Corrections For King Crypto