Blockworks verify icon

11M
...

Bitcoin nosedives an hour before expected ETF decision

Cryptocurrencies and related equities whipsawed Wednesday, with investors and analysts waiting to hear the US Securities and Exchange Commission’s ruling on a bitcoin ETF. 

Bitcoin, which had been steadily climbing earlier in the day after dipping below $45,000, lost around 2% as of 3:30 pm ET Wednesday. Ether, on the other hand, turned things around after a disappointing few days, gaining 8.5% Wednesday afternoon. 

The moves come after a false bitcoin ETF approval report — posted from the SEC’s own X account — caused a rally and crash in BTC Tuesday afternoon. 

Read more: SEC will investigate, ‘determine appropriate’ steps following X account compromise

“Another…

Read more on Blockworks

87.6K Reads