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Breaking: SEC twitter account hacked to say spot BTC ETF approved, whipsaw ensues

Kitco Media
By Jordan Finneseth
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Updated
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Breaking: SEC twitter account hacked to say spot BTC ETF approved, whipsaw ensues teaser image

Bitcoin (BTC) surged to a new 2023 and 2024 high on Tuesday afternoon after the SEC's X (formerly Twitter) account was hacked to say that the regulator had approved the first spot BTC ETF.  

 

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SEC Chair Gary Gensler was quick to post that the account was hacked, and no spot BTC ETF has been approved. 

Data provided by TradingView shows that the announcement led to a spike in volatility as the one-hour candle for BTC whipsawed to a high of $47,910, and then plunged to $45,567, before ultimately climbing back above support at $46,000. 

Kitco Media

Jordan Finneseth

Jordan Finneseth is a Crypto Market Reporter for Kitco Crypto. Coming from a background in Psychology and Human Behavior, he began to focus his attention on the cryptocurrency space in early 2017 after noticing the rapid growth of this emerging market. Since that time, Jordan has worked as a content creator for multiple projects and as a crypto news journalist reporting on the latest developments within the cryptocurrency market. Jordan holds a Master of Science in Clinical/Counseling Psychology and a pair of Bachelor's degrees in Psychology and Environmental Health Science. You can reach out Jordan Finneseth at 1- 514.670.1372.

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