Going against the market sentiment around the U.S. Securities and Exchange Commission’s (SEC) potential approval of the spot Bitcoin ETF, traders and investors in the crypto space were subjected to unnecessary confusion with what could be a premature sharing of the approval announcement on social media platform X on Tuesday, January 9, 2024. In this context, on chain data shows that there were change of dynamics in trading between Bitcoin (BTC) and several altcoins.
Also Read: XRP ETF Filing To Come Within Weeks After Bitcoin ETF Approval?
Altcoin Prices Showed Uptrend After Fake Announcement
According to on chain data from Santiment, there was a clear trend in favor of price rise for few altcoins, as the market realized that the announcement on Bitcoin ETF approval was actually fake. While BTC Price saw a high of $47,900 following the fake announcement, it quickly subsided to a low of $45,500. Earlier, CoinGape reported that the fake announcement to liquidations worth over $140 mill
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