US Securities and Exchange Commission (SEC) spot Bitcoin ETFExpectations that he would approve were quite high. A tweet sent from the SEC account earlier today contained the expected news; The SEC had officially given ETF approval. While the community welcomed this news with joy, an unexpected development occurred and SEC Chairman Gary Gensler stated that the official account was hacked and no ETF approval was given. However, the community turned this situation into an opportunity and set its sights on the prices of these five altcoins.
Santiment’s data according to, the market appeared to move towards several altcoins after the announcement regarding Bitcoin ETF approval was found to be fake. After the fake announcement, BTC Price hit $47,900 and quickly fell to $45,500. In this process, positions worth more than $140 million were liquidated.
However, the price decline is leading altcoinIt was not seen in Ethereum (ETH), HEX, AAVE, Lido DAO (LDO) and PEPE. Data showed that although the price of Bitcoin fell by 3%, the rise in prices of this altcoin continued.
This Altcoin Prices Soared After Bitcoin ETF Approval Was Found to be Fake
Ethereum, which ranks second in terms of market capitalization, has shown resistance with an increase of 3.35% compared to the last 24 hours, while the Lido DAO Price (LDO) has recorded a strong increase of 19% in the same period. However, the main reason for this rally and whether it will continue remains unclear. However, it has historically been observed that a sustained bull run for Bitcoin is often followed by a significant inflow of funds into altcoins.