Altcoins are feeling the heat amid the spot Bitcoin exchange-traded fund (ETF) approval saga. Following the fake news posted on Tuesday after the Securities and Exchange Commission (SEC) X account was hacked, Bitcoin price briefly rallied above $47,000 leaving out most top altcoins except Ethereum.
Soon after the fake ETF approval news was deleted, BTC dumped to below $45,000. Although Ethereum (ETH) climbed above $2,400, resistance at $2,500 remains untested, not to mention the correction to $2,390 at the time of writing on Wednesday.
Today was the day the ETF was expected to pass, and Bitcoin instead fell below $45,000 to new lows in recent days.The sharp volatility continues to pull the RV up and the short-term IV has seen a small rally, as we have mentioned several times recently in our data analysis that… pic.twitter.com/MekjaNnyaI
— Greeks.live (@GreeksLive) January 10, 2024
Investors have a lot to deliberate and consider ahead of the spot BTC ETF approval. The aim would b
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