The price of Bitcoin experienced significant fluctuations in the past hour due to ongoing confusion regarding the approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC).

Earlier, the SEC posted an order on its official website stating that proposals for a spot Bitcoin ETF had been approved. However, this link was subsequently removed, leading to further uncertainty within the cryptocurrency community.

This incident follows a security breach on the SEC’s X account yesterday, where an unauthorized individual posted a tweet claiming that the much-anticipated approval had been granted.

Despite the initial removal, the link was later reinstated on the SEC’s website, suggesting that the approval had indeed been finalized.

This series of events triggered extreme volatility in Bitcoin’s price. The cryptocurrency’s value plummeted below $45K almost instantly, before rebounding to $46K just minutes later.

According to data from Coinglass, this rapid price movement resulted in nearly $30 million worth of liquidated leveraged positions.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	None
Companies	Binance Futures, Coinglass, US SEC
Currencies	Bitcoin
Securities	None