Crypto Price Today: Bitcoin falls below $46,000 amid false ETF approval announcement
cryptocurrency Bitcoin (BTC) declined 2% to $45,945 on Wednesday after the US Securities and Exchange Commission (SEC) said that a post on X claiming a spot Bitcoin exchange-traded funds was approved was not authorised by the agency.
«The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products,» the U.S. Securities and Exchange Commission said on X.
At 10:43 a.m., bluechip crypto tokens BTC was trading 1.8% lower at $45,945, while Ethereum was up 2.8% at $2,377. Whereas altcoins, such as Avalanche, Solana, and Cardano, fell 3-8%.
Bitcoin surged beyond the $47,000 threshold on Monday, reaching its highest point since March 2022. However, it couldn't maintain that position, experiencing spikes and dips in the past 24 hours following the approval of fake SEC spot Bitcoin ETFs, said Edul Patel, CEO of Mudrex.
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View Details»«Currently, Bitcoin is being traded at the $45,000 mark. Both institutional and retail investors are expressing optimism about Bitcoin, with the next resistance anticipated at $46,200, and support firmly established at $45,400,» Edul said.
Despite the decline in Bitcoin and other major altcoins, prices of Ethereum surged nearly 3% in today's trade.
Shivam Thakral, CEO of BuyUcoin, said, «Ethereum is expected to cross the $2,400 mark owing to the growing optimism around the Bitcoin ETF approval. The market is expected to remain volatile this week.»
In Wednesday's trade, the global cryptocurrency market cap fell 0.9%
