Bitcoin ETF Approved Fake News

[wilkine]

SEC's hacked account falsely reported approval of Bitcoin ETF. Following the post, Bitcoin (BTC) initially surged to nearly $48,000, then plummeted by almost 6% to $45,100 as the news proved to be false. During the volatile period, over $50 million in leveraged derivative trading positions were liquidated within an hour.

This is definitely market manipulation. It seems like a deliberate attempt to control market sentiment with these repeated maneuvers and now false information. What's your take on this?

[Altcoin1998$]

SEC's hacked account falsely reported approval of Bitcoin ETF. Following the post, Bitcoin (BTC) initially surged to nearly $48,000, then plummeted by almost 6% to $45,100 as the news proved to be false. During the volatile period, over $50 million in leveraged derivative trading positions were liquidated within an hour.

This is definitely market manipulation. It seems like a deliberate attempt to control market sentiment with these repeated maneuvers and now false information. What's your take on this?

Gary Gensler most likely Bitcoin ETF Approval saw how the Bitcoin market was changing and very cleverly announced that his Twitter account had been hacked and that someone from his hacked Twitter account had spread false news about Bitcoin ETF Approval. Actually it was a manipulation and he was playing with people's beliefs. I never believe such false assurances from the SEC Chairman because he has already made positive comments about the Bitcoin ETF approval multiple times and he has also pushed back the Bitcoin ETF approval date multiple times. Even today there was probably a cleverness that the general public didn't understand and when Gary Gensler realized that if the Bitcoin ETF was approved, the market for Bitcoin would be so bullish that it would become difficult to control very quickly, that's why he created this drama.

[Primo1760]

In my opinion the Bitcoin ETF is an absolute drama. As we in the After seeing the U.S Securities and Exchange Commission approve Bitcoin ETFs, Gray Gensler posted from his Twitter account that Bitcoin is not approved and that someone hacked the Twitter account to create fake news. According to me no one could hack twitter account for so long and today was the approval date and today the account is hacked? Anyone can think about it. It seems to me to be a completely dramatic event to make the news about the disagreement between 5 and 11 minutes after the approval of the Bitcoin ETF. And this can be a way for them to buy and sell bitcoins. People will not believe this drama. Bitcoin will and will continue to move at its own pace.

[Tribalchief]

Every piece of news coming from the SEC during these times is certain to keep everyone on their feet and give the market the necessary boost. I have always noted the fact that a small news outbreak can affect the market in both positive and negative ways. Gary Gensler knows for sure what the approval of just one spot Bitcoin ETF would do for the Bitcoin community, but he has chosen to play with the feelings and patience of everyone. Certainly, the approval is not negotiable, but they've also considered taking us on a bumpy ride to make it look difficult which seems to be part of their plan.

[LogitechMouse]

SEC's hacked account falsely reported approval of Bitcoin ETF. Following the post, Bitcoin (BTC) initially surged to nearly $48,000, then plummeted by almost 6% to $45,100 as the news proved to be false. During the volatile period, over $50 million in leveraged derivative trading positions were liquidated within an hour.

This is definitely market manipulation. It seems like a deliberate attempt to control market sentiment with these repeated maneuvers and now false information. What's your take on this?

Gary Gensler is a proven anti-Bitcoin, so some people are still thinking that the opposite might happen. We are anticipating that the SEC will accept a Spot Bitcoin ETF somewhere this week. Still, this ETF makes investors excited.

They are suing people here and there, but they can't prevent the hacking of their own Twitter page. I mean come on Mr. Gensler. Just resign already. Nevertheless, many are expecting that an ETF will get accepted at least for this moment. The recent drop only has a short-term effect on the price of Bitcoin. If only one gets accepted, I expect it to test at least the $50,000 psychological resistance. They'll accept it that's for sure.

[Peter90]

SEC's hacked account falsely reported approval of Bitcoin ETF. Following the post, Bitcoin (BTC) initially surged to nearly $48,000, then plummeted by almost 6% to $45,100 as the news proved to be false. During the volatile period, over $50 million in leveraged derivative trading positions were liquidated within an hour.

This is definitely market manipulation. It seems like a deliberate attempt to control market sentiment with these repeated maneuvers and now false information. What's your take on this?

Gary Gensler most likely Bitcoin ETF Approval saw how the Bitcoin market was changing and very cleverly announced that his Twitter account had been hacked and that someone from his hacked Twitter account had spread false news about Bitcoin ETF Approval. Actually it was a manipulation and he was playing with people's beliefs.

Twitter account wasn't hacked.
Compromised yes, hacked no   

X Confirms 'Bitcoin ETF' Breach Was Not Of Any Of Its Systems, SEC Failed To Use 2-Factor Authentication On Phone

[MrSpasybo]

There are a lot of conspiracy theories surrounding this incident, and I think even if X proves that SEC's X-account was hacked, hackers only told us the truth 1 day in advance ^^

Fake news also suggests “not new” possibilities that could come to BTC price: extreme volatility and the possibility of “sell-the-news.” I consider this a good sign for me to place orders to exit positions for my assets in BTC and ALTS.

In just a few hours, we will know the final results for BTC Spot ETF, everything is as exciting as a New year Count Down 🍾🍾🍾

[yhiaali3]

It is certain that this fake news aims to manipulate the market. It is known that everyone is waiting for approval, so it is natural that the leaking of this fake news will cause the price of Bitcoin to rise.

Personally, I do not know why people are immediately affected by such news before even confirming its authenticity. Many traders have been in the market for a long time, but until now they have not understood these tricks, unfortunately, and whales are always present at the appropriate times to exploit the news to their advantage.

[Faisal2202]

This is definitely market manipulation. It seems like a deliberate attempt to control market sentiment with these repeated maneuvers and now false information. What's your take on this?

Of course, this is manipulation I mean they are even trying to cover their asses by saying the account was hacked, and they even came up with some nontechnical proof to take people in trust. By the way, I already knew ETF was approved but if they even have to approve it then why do they make this good news worse for us, I mean all the suspense is gone just due to this drama.

I just made a post on how ETF got approved, real this time. My take is only to follow multiple sources and never act too fast and too late, because if I would have acted too fast (whatever the activity I wanted to do either its buy or sell) I would be at lose but I did not acted too fast and it turns out to be fake, one thing I have learnt so far is, never trust every first word, statement, tweet, coming out of SEC's mouth hehe.

[Bitcoin_people]

The price of Bitcoin skyrocketed when the SEC approved a Bitcoin ETF on a Twitter account. Although we later found out that it was a fake news and there was talk of a hack. But many of us didn't believe it but for a short period of time how soon after one news was published another news was published that X's account was hacked. Although this has been perpetuated as fake news, today we have seen BTC's market value rise substantially since the ETF approved Bitcoin. And we can definitely say that in the coming days, we will see more Bitcoin prices.

[joniboini]

Twitter account wasn't hacked.
Compromised yes, hacked no   
X Confirms 'Bitcoin ETF' Breach Was Not Of Any Of Its Systems, SEC Failed To Use 2-Factor Authentication On Phone

What's the difference between the two in this case? Are they saying that Twitter is still safe as long as we activate the security settings correctly? Kinda surprised me that a government account has no 2FA protection, not to mention the phone number is controlled by an individual. I thought they would request a custom account where multiple people can manage the account with better security features, but it turns out it is no different from my throwaway account. Whether this is a real attack from someone or just SEC being irresponsible, the market still needs to learn how to control their emotions imo.

[bitterguy28]

The price of Bitcoin skyrocketed when the SEC approved a Bitcoin ETF on a Twitter account. Although we later found out that it was a fake news and there was talk of a hack. But many of us didn't believe it but for a short period of time how soon after one news was published another news was published that X's account was hacked. Although this has been perpetuated as fake news, today we have seen BTC's market value rise substantially since the ETF approved Bitcoin. And we can definitely say that in the coming days, we will see more Bitcoin prices.

but together with that bitcoin price growing is another congestion from the transactions we will be making 

it is sad that we cannot do what is our original plans to sell when the price is high and buy when its low because of the fee growing and growing that will not bring us any profit if we buy and sell.

Anyway congrats to the bitcoin community as same as the altcoins because for sure this ETF approval for bitcoin will allows altcoins to have their own as Ethereum might be the first to hang with it.

[JoyMarsha]

If this were to be another fake news about the bitcoin ETF, every crypto news agency would have spread it out, the way they did the previously rumored bitcoin ETF approval a few months back.

As far as I am concerned, this is just propaganda to see how most investors would behave again when they heard about the fake bitcoin ETF.

As Altcoin1998$ has pointed out, it is a false news coming from Gary Gensler twitter hacked account. Don't think to believe him anyway, because he just wants to create unnecessary tension in the mind of crypto investors.

[Baofeng]

But it turns out that Bitcoin ETF has been approved already. And as I suspected, SEC is under pressure from this big institution that's why sooner or later they will have to give in.

https://www.cnbc.com/2024/01/11/heres-what-a-bitcoin-etf-actually-means-for-investors.html

But so far though, it looks like it's backfire because after the news went out, we did go to $49k. However, there is a minor dip or a correction as the price stumbled down to $42k. And just when we thought that this is a bull run already, the market goes on the opposite side.