/ Explore the latest drama in crypto market today: Fake Bitcoin ETF approval, and surges in Bonk and HNT prices..
Author: Nilesh Hembade.
Date: 10 Jan 2024, 09:28 AM IST
In a dramatic turn of events this Wednesday morning, the cryptocurrency market witnessed unexpected drama. All eyes were on the awaited approval of the Bitcoin Spot ETF, but the excitement took an unexpected twist when an unidentified individual hacked an SEC account on X and falsely declared the approval of the Bitcoin Spot ETF. This erroneous announcement caused a sudden surge in Bitcoin prices, reaching $47,972 within minutes.
BREAKING: Gary Gensler says SEC's X account was hacked & it has not approved any #Bitcoin ETFs. pic.twitter.com/tx5vF5FJoj
— Watcher.Guru (@WatcherGuru) January 9, 2024
However, the euphoria was short-lived as the Securities and Exchange Commission (SEC) swiftly clarified that the compromised account had disseminated false information, and the Bitcoin Spot ETF had not been approved. Consequently, the price of Bitcoin promptly corrected, falling to the $44,748 level.
Bitcoin (BTC) and Ethereum (ETH) Prices:
- Bitcoin (BTC): The price of Bitcoin has experienced a 1.71% decrease in the last 24 hours, settling at $46,083. The market cap for Bitcoin stands at a formidable $903 billion.
- Ethereum (ETH): Ethereum is currently trading at $2,316, marking a 2.26% increase in the last 24 hours. The market cap for Ethereum is at $283 billion.
Top Gainers:
- Bonk (BONK): The price of the BONK coin has soared by an impressive 29.33%, reaching $0.00001606 in the last 24 hours. The market cap for the BONK coin now stands at a noteworthy $1.02 billion.
- Helium (HNT): Helium’s HNT token has seen a substantial surge of 25.29%, reaching $6.798 in the last 24 hours. The market cap for the HNT token is now at an impressive $1.09 billion.
Despite the initial excitement surrounding Bitcoin’s potential ETF approval and the subsequent hack-induced confusion, other cryptocurrencies like Bonk and Helium’s HNT have continued their upward trajectory, showcasing the dynamic and eventful nature of the cryptocurrency market. Investors are advised to remain vigilant in the face of such unexpected developments.
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