Breaking News: SEC Twitter account hacked to reveal spot BTC ETF approved, whiplash ensues

Bitcoin (BTC) rose to a new 2023 and 2024 high on Tuesday afternoon after the SEC's X (formerly Twitter) account was hacked to announce that the regulator had approved the first spot BTC ETF.

SEC Chairman Gary Gensler quickly revealed that the account was hacked and no spot BTC ETF was approved.

The Twitter account @SECGov was compromised and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot Bitcoin exchange-traded products.

— Gary Gensler (@GaryGensler) January 9, 2024

Data provided by TradingView shows that the announcement led to a spike in volatility as the one-hour candle for BTC shot to a high of $47,910 and then plunged to $45,567 before finally breaking back above the support at $46,000 -Dollar climbed.

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