The @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.

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NEW: 💥 Twitter/X Safety account confirms that the SEC account was in fact compromised and did not have 2FA activate at the time 👀

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🌐 Major Crypto True Crime Tale: Bogus SEC Tweet Unleashes Havoc! 😲

In a startling development within the crypto world, the official Twitter account of the U.S. Securities and Exchange Commission (SEC) was compromised. A false statement about the approval of Bitcoin Spot ETFs, eagerly anticipated today, was erroneously broadcast.

🔍 In October, the SEC cautioned: "Be skeptical of what you read online. The most reliable source about the SEC? The SEC itself."

Yet, in a surprising turn of events, at 22:11 yesterday, the SEC's hijacked Twitter account falsely declared the approval of Bitcoin Spot ETF applications.

🚨 SEC Chairman Gary Gensler promptly clarified: "Our account was hacked! The ETF announcement is not true."

📉 The market reaction was swift and severe: Within an hour, trades worth $84 million were liquidated, with $41 million in shorts and $43 million in longs vanishing.

🔐 Twitter Security reported: "The @SECGov account was compromised, not through a breach of X-systems, but by an unknown individual gaining control over a phone number associated with the account. Notably, two-factor authentication was not active at the time."

💬 A poignant comment from a Twitter user underscored the irony: "Those responsible for 'protecting investors' and 'regulating' #Bitcoin can't even secure their own account with basic 2FA..."

This incident raises a question: Did the SEC account ever have two-factor authentication in the past 12 months? 🤔

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SEC in a Nutshell

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NEW: 🥇 JP Morgan CEO Jamie Dimon says "Bitcoin doesn't have value." 🤔

Meanwhile, JP Morgan is an authorized participant for BlackRock's spot Bitcoin ETF 👀

Look at what they do not what they say 🤡

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NEW: 🥇 All 11 spot bitcoin ETF tickers are currently being added to the Bloomberg Terminal as 'Pending Listing' ⏰

Trading will be ready to go shortly after approval.

Almost there 🫡

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JUST IN: 💥 BITCOIN ETFS APPROVED! 🙌

Source

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🚨 JUST IN: Elon Musk Open to Use Bitcoin on X Following SEC’s Approval of Bitcoin Spot ETFs.

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BREAKING: 💥 BlackRock's Bitcoin ETF is trading up +23.35% pre-market 🔥

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#BTC - got rejected from $48,000 🙅‍♂️

Yesterday, we saw confirmation of what I've been repeating for last couple of months - while the ETF approval will cause market growth in mid term, in the short term, it will trigger a correction.

👉 Take a look at the chart - before the official announcement and start of trading, #BTC was steadily rising, approaching $48,000 again. Immediately after the announcement, we saw a decline.

As rumors were already factored into the price, the market anticipated the ETF launch in advance. Now, attention is shifting to the potential Ethereum ETF, creating new wave of hype. Until this news plays out, I expect a notable increase in interest in #ETH.

💁‍♂️ While I expect a continuation of #BTC rally, for the ETF launch to greatly impact the crypto cap, it takes time. The new product must gain recognition among traditional market participants. That's precisely why we see active marketing campaigns from ETF issuers.

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⚡️JUST IN: #BlackRock releases an the first explainer video for their spot 💰 #Bitcoin ETF 👀

“You might have noticed #Bitcoin  make it’s way into our every day lives”

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The 11 new spot 🥇 Bitcoin ETFs have reached $3.66 billion in trading volume at 2pm on their launch day.

It'll probably hit $4 billion before market close.

This is the biggest ETF launch for a single asset of all time.

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Bitcoin ETFs Broke The Market

Bitcoin ETFs had a great first day, racking up $4.5B in trading volume. BlackRock's iShares Bitcoin Trust, traded as IBIT on Nasdaq, played a big part, getting close to $1B in volume and making up 22% of the total across all 10 spot Bitcoin ETFs.

There were 700,000 individual trades involving the 11 spot ETFs today. To put it in perspective, this is twice the number of trades for $QQQ (one of the largest ETFs offered by Invesco), although $QQQ handles much larger dollar volumes.

With this volume, the first 10 spot Bitcoin ETFs broke the Wall Street record set by the first Gold ETF back in 2004. Then, State Street Corporation launched Gold Shares (GLD) and racked up $1.63B in volume on opening day.

However, there’s a little downside to all this. While the total trade was $4.6B, GBTC was 50% of that $2.3B. The GBTC numbers were majority sales/outflows due to the higher fees and the old Bitcoin being locked up, which means that we didn’t have any net inflows...

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JUST IN: BlackRock CEO Larry Fink says they "see value in having an 🔵 Ethereum ETF."

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JUST IN: BlackRock CEO Larry Fink says Bitcoin is "no different" than gold and an asset that protects you.

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🚨JUST IN: 🥇 Bitcoin Price to Hit $150K in Just One Year, Expected to Reach $500K in Five Years, Says Fundstrat’s Tom Lee.

Source

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🥇 BTC - dropped by 7% in the last 24 hours 📉

It seems that despite common sense, most people were still expecting pump after the launch of the ETF. Failing to see it materialize, traders are starting to liquidate their positions.

Just in the last 24 hours, panic has led short-term holders to withdraw and sell over $5 billion worth of #BTC on exchanges. Now, pay attention. 💁‍♂️ 80% ($4 billion) of these sales were at a loss.

Meanwhile, the ETF launch itself was successful by all metrics. Nearly $5 billion was traded on the first day, setting a record among all ETFs, surpassing even gold. The overall capital inflow for that day was around $700 million.

👉 This is exactly the situation I was talking about. Despite positive market indicators, #BTC is falling. This is happening because strong hands are pushing weak ones out of the market and building their own positions. And when this "redistribution" is complete, the growth will continue.

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🌟 Ethereum ETF Sparks Interest: BlackRock CEO Larry Fink Optimistic 🌟

📊 BlackRock CEO Larry Fink Sees Potential in Ethereum ETF

🚀 Following the triumphant launch of the Spot Bitcoin ETF (IBIT), BlackRock CEO Larry Fink has expressed his recognition of the "value" in a Spot Ethereum ETF.

📈 BlackRock, the world's largest asset manager with a whopping $9 trillion in assets under management, filed a request for a Spot Ethereum ETF back in November.

💬 In a CNBC interview, Fink compared Bitcoin to gold, highlighting Bitcoin's near-maximum quantity, which positions it as an asset capable of offering protection.

"It's an asset that shields you. Unlike gold, which we keep producing more of, Bitcoin is nearing its maximum limit ever, making it a unique protective asset."

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🔵 #ETH - trading above the ascending wedge ⬆️

Despite the correction, the #ETH chart shows numerous bullish signals: long shadows, ascending structure, holding above the trendline, a false breakdown of support - another trap from the market maker.

Considering these factors and technical indicators dipping below neutral, the market is seems like to be gearing up for further growth.

Ascending wedge breakout is also a bullish sign for #ETH. However, given the broader correction, I'd wait for a confident retest of its upper limit before opening positions. If sellers fail to push the price back into the wedge, I'll consider a mid-term long position.

📊 The nearest resistance level for #ETH and our first TP would be around $2760, the highest point since May 2022.

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🥇 #BTC - evident capital outflow ⚖️

Selling pressure on #BTC is intensifying. Despite buyers stepping in around the lower limit of the ascending structure, a quick look at the order book shows that this support block is losing liquidity by the minute.

📊 While globally #BTC is still in an ascending trend, the current situation hints at a continued correction. Profit-taking, strong miner pressure, and, importantly, the whale capital outflow may provide us with an opportunity to buy below $40,000.

It's because smart money always moves with the best profitability. And it's one of the reasons why #ETH, #SOL and #BNB are on the rise. New markets within their networks offer much more profitability with much lower risks than trading or traditional investments.

👉 We've seen it in 2023 - a significant part of profits was taken by those who adapted to the new market trends. Not just buying random coins; but sustainable capital growth and leveraging new earning methods that decentralized sector has to offer.

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JUST IN: JPMorgan CEO Jamie Dimon says his "personal advice" is to not get involved with Bitcoin.

JPMorgan is an authorized participant for BlackRock’s spot Bitcoin ETF.

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