Bitcoin price rallied as high as $47,950 after official SEC profile on X posted unauthorized information about Bitcoin ETF approval, but the euphoria ends with dynamic sell-off. SEC chair, Gary Gensler informed, that the SEC account was compromised by hackers. Gensler commented that: 'The SEC has not approved the listing and trading of spot bitcoin exchange-traded products '.
- The Garry Gensler remark over SEC account attack leaves some space for speculations. It's true that SEC didn't approve any Bitcoin ETF (yet) and final decision hasn't been made so, the Gensler's comment is true. On the other hand, a tone may suggest that SEC may don't approve Bitcoin ETF products. The final and official decision is still highly anticipated tomorrow;
- As we could see, the 'unauthorized' SEC tweet used Bitcoin 'hashtag' which is not usual practice for Agency but Bloomberg ETF analyst Eric Balchunas, who indicated that spot ETF approval has more than 90% chance, claims that 'Someone prepped a planned tweet and put a wrong date (...) The tweet would have made perfect sense tomorrow at this time. The language sounds legit SEC-ish (...) But we'll see'.
Source: xStation5
