The revelation of one of the most important developments in the history of cryptocurrencies through a hack shocked the industry, especially Bitcoin (BTC).
The spot Bitcoin ETF issue, which not only crypto investors but all financial markets have been waiting for, caught fire at night. However, this flame occurred in an undesirable and uncontrollable way. First, the US Securities and Exchange Commission (SEC) published a post regarding ETF approval on its official X account. SEC Chairman Gary Gensler later stated that their accounts were seized, directly worrying the market and investors.
In this chain of turmoil, BTC first rose and then fell, further exacerbating the tense wait.
We Witnessed Price Manipulation Due to News Effect!
The cryptocurrency leader, which exploded after the SEC approved the X account, first tested $ 47,974. However, when the hacking issue emerged, naturally there was a strong selling pressure and the price rose to $44,761. BTC‘s total price movement was around 7%, disappointing tens of thousands of investors in both derivative and spot markets.
If the clouds clear for BTC, which was traded at $ 45,938 at the time of writing, it can move towards $ 46,535, $ 47,242, $ 47,974 and $ 48,606 respectively. Developments by ETF, SEC and Gensler will play an important role. If the Fud environment continues, a new sales round may start at any time. In such a scenario, they could drop to $45,445, $44,761, $44,338 and $43,386 respectively.
