Crypto News – The approval of Spot Bitcoin ETFs was the subject of a fake news item that caused significant volatility in the cryptocurrency market. The post emanated from the US SEC’s hacked X account.
Fake BTC ETF News Positively Impacts ARB Crypto Price, Increasing 16%
The post caused a brief spike in Bitcoin prices to $48000 and a precipitous decline to $45000. However, it was removed approximately half an hour after it was published. Consequently, the cryptocurrency industry has seen volatility and manipulation, as evidenced by the liquidation of about $90 million worth of long and short bets in Bitcoin.
Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges. The approved Bitcoin ETFs will be subject to ongoing surveillance and compliance measures to ensure continued investor protection.
fake tweet
Cryptocurrencies like Arbitrum (ARB crypto) showed a noticeable spike amid the uncertainty, indicating higher levels of sustainability.
Arbitrum May Continue to Rise
A significant trend reversal indicator is shown on the Arbitrum coin’s daily time frame chart, where a rounding-bottom pattern has formed. The coin’s breakthrough past the $1.82 neckline barrier on January 3 indicated a chance for a further rebound.
The coin is currently trading at $2.33 as buyers swiftly seized control despite a brief false breakdown brought on by market turbulence. The price may seek $2.9, or a 45% increase, as the target of the rounding bottom pattern if Arbitrum maintains its position above this neckline resistance.
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