SEC’s Twitter Blunder Shows Bitcoin ETF Approval May Be a “Sell-the-News” Event


BTC jumped before dropping seconds after the SEC tweeted the sport Bitcoin ETF had been approved.

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Bitcoin traders today got a brief glimpse at how the market would react if the U.S. Securities and Exchange Commission approves the spot Bitcoin ETF thanks to the SEC’s failed tweet, and it appears it was a “sell the news” event.

BTC briefly jumped above $47,800 before dropping to around $45,600 when the SEC posted on X that the spot Bitcoin ETF has been approved. The digital asset was trading at $46,700 before the SEC’s tweet.


BTC dropped to as low as $44,900 when SEC Chair Gary Gensler tweeted that the SEC’s X account had been compromised and that the agency “has not approved the listing and trading of spot bitcoin exchange-traded products.”