Urgent! Fake SEC Tweet Causes BTC to 'Break' $48K Before Falling Back!

<p>&nbsp;"Hmm maybe there is a shrimp behind the rock, but it's not possible, right?"</p><p><br /></p><p>Two days ago the cryptocurrency king Bitcoin (BTC) broke through $47,000, today its price managed to reach $48,000 when there was news that the Securities and Exchange Commission (SEC) had approved the spot BTC ETF.</p><p><br /></p><p>However, the price of BTC plummeted back below $46,000 after it was discovered that the announcement was purely fake and this has led to over $218 million in crypto trading being liquidated in the last 24 hours.</p><p><br /></p><p>By observation, over $56 million in BTC trades were liquidated in the last hour and 72,000 traders were affected when a single liquidation occurred on a BTC/USD trade on Bybit for $6 million.</p><p><br /></p><p><br /></p><p>Returning to the description of the situation of the incident, SEC Chairman Gary Gensler said that the SEC's account was compromised following its official X page made false statements regarding the approval of spot BTC ETF.</p><p><br /></p><p>However, Fox Business reporter Charles Gasparino said the SEC should investigate itself for manipulation of the crypto market through the fake tweets.</p><p><br /></p><p>While Bloomberg ETF analyst Eric Balchunas believes that the tweet is real but mistakenly scheduled a day earlier than the SEC intended to issue their approval announcement.</p><p><br /></p><p>As of this writing, BTC price has plunged by 2.12% to $45,730 in the last 24 hours with a market cap of $896 billion but is still up 1.24% over the last week.</p>