Bitcoin Soars Past $47K, Outstrips Meta in Market Cap Amid ETF Speculation and I

[sirty143]

Bitcoin Soars Past $47K, Outstrips Meta in Market Cap Amid ETF Speculation and Intense Trading

Bitcoin breached the $47K threshold on Monday, fueled by growing excitement over the potential launch of a U.S. spot bitcoin exchange-traded fund (ETF). The leading crypto asset kicked off the day at $43,247 per unit, then climbed to a peak of $47,281 by 2:10 p.m. Eastern Time (ET). See more for yourself here.

Your opinion is greatly appreciated.

[Tribalchief]

I couldn't read further because the link you provided is plain and didn't display any text.
From the little information i can gather here, the speculation seems to have impacted the price positively for a few moment. I have always considered speculations as factors that also drives the price of Bitcoin in both positive and negative direction respectively. From the chart I saw on Binance, it hit about $47.9K, which was very close to $48K. Though the price is still very much fine as at the time of this reply ($46.5K).

I still don't know if the official X account of SEC has been fully recovered. I wonder how they will pass information of every approval across.

[yhiaali3]

It is clear that the sudden rise in the price of Bitcoin was due to the hacking of the SEC account and the spreading of fake news about the approval of the ETF.

Regardless of who was behind the hack, the whales took advantage of the opportunity immediately and manipulated the market, as the false news caused a significant rise in the price of Bitcoin as a result of increased demand, and this is an opportunity for the whales to pump large amounts of Bitcoin, which led to the price returning to its normal state.

We always advise people not to rush into believing fake news, but unfortunately they always fall into the same trap.