Bitcoin (BTC) Prices, Charts, and Analysis:

• SEC fake X (tweet) shambles add to Bitcoin volatility.
• Ethereum outperforms Bitcoin after months of losses.

Bitcoin (BTC/USD) Pumping Higher as SEC ETF Deadline Nears

The Bitcoin ETF decision process took a comical turn yesterday after a false SEC X hit the screens saying that the US regulator had approved a raft of ETFs, only to pull the announcement minutes later saying that their X account had been hacked.

SEC False X (Tweet)

SEC Retraction

The false announcement sent BTC/USD to within touching distance of $48k before the retraction sent Bitcoin tumbling back to the early $45k area. According to Coinglass data, over $93 million Bitcoin longs have been liquidated over the last 24 hours.

Coinglass Liquidation Data

The keenly awaited SEC decision is set to be announced today and more volatility can be expected. Bitcoin is currently trending lower ahead of the SEC’s decision.

Bitcoin One-Hour Price Chart

The second-largest cryptocurrency by market capitalization, Ethereum, was seemingly unaffected by yesterday’s SEC drama and instead pushed higher over the session. Ethereum continues to gain against Bitcoin today, although a longer-term series of lower highs and lower lows remains in place.

ETH/BTC Daily Chart

Charts via TradingView

What is your view on Bitcoin – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

https://www.dailyfx.com/news/bitcoin-etf-decision-d-day-sec-fake-approval-announcement-sparks-btc-usd-volatility-20240110.html