The crypto market recently experienced a significant event when the Securities and Exchange Commission’s (SEC) account was hacked. This led to a fake tweet about the approval of a spot Bitcoin ETF, causing a market whiplash that resulted in a $56 million liquidation within an hour.
Meanwhile, Ethereum Classic’s price, which was following a micro bearish reversal pattern, has shown resilience despite the recent market correction. The short-term outlook is now bullish, with ETC bouncing back from the crucial support of $19.33, ahead of the anticipated spot Bitcoin ETF approval.
In another development, Bonk Inu (BONK), a Solana-based meme coin, has defied the market’s ETF fears and rallied by 22%. This surge occurred amidst the fake ETF approval news from the compromised SEC social media account. The rally suggests a further upswing could be possible under certain conditions, and sidelined buyers might have an opportunity to buy BONK if a potential pullback occurs.
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| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | FXStreet, Securities and Exchange Commission |
| Currencies | Ethereum, Bitcoin, Bonk |
| Securities | None |
