Bitcoin Price Prediction as ETF Deadline Ends Today – $100,000 BTC Incoming?
In a dramatic turn of events, Bitcoin, the most prominent cryptocurrency, recently witnessed a surge to nearly $48,000. This unexpected rise was triggered by a misleading tweet from the U.S. Securities and Exchange Commission (SEC), which falsely indicated the approval of Bitcoin exchange-traded funds (ETFs).
However, this surge was short-lived as the SEC promptly rectified the situation, confirming their social media account had been compromised and denying the approval of Bitcoin ETFs. This clarification led to Bitcoin’s price correcting to around $46,000.
Bitcoin Jumps, Then Dumps to $45K As Fake News About Spot Bitcoin Approval Liquidates $50M
Bitcoin [BTC] endured wild swings during Tuesday's trading session as a U.S. Securities and Exchange Commission (SEC) social media post about approving spot bitcoin exchange-traded funds… pic.twitter.com/PF9AsKMmNY
— ThugsAmbition (@ThugsAmbition) January 10, 2024
The incident caused significant volatility in the cryptocurrency market, with the global value of all cryptocurrencies dropping by 0.83% to $1.71 trillion within 24 hours.
Amidst this tumultuous landscape, the crypto community is eagerly awaiting the ETF deadline, with some speculating a potential surge in Bitcoin’s value to $100,000.
This latest episode underscores the growing impact of institutional movements and regulatory decisions on the highly dynamic and speculative crypto market.
Recently, the cryptocurrency market was thrown into a whirlwind by a deceptive tweet from the U.S. Securities and Exchange Commission (SEC).
The tweet falsely indicated the approval of Bitcoin ETFs, causing Bitcoin’s price to momentarily soar to $47.9K before falling back to $45.4K.
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