The US securities regulator said someone briefly accessed X's social media account and posted a fake message saying she had approved bitcoin exchange-traded funds. The Securities and Exchange Commission said it had not yet approved the order.
Bitcoin rose to a new 21-month peak of $47,897 after the fake post, before falling below $45,000 within minutes after the SEC deleted the information and denied its authenticity.
The world's largest cryptocurrency fell in recent trading by 0.37 percent to $45,953. Expectations of a positive SEC decision on ETFs, which will likely attract billions of dollars in new investments, have supported Bitcoin prices in the past two months.
In the currency market, the dollar maintained its gains, as the dollar index, which measures the performance of the US currency against a basket of six currencies, reached 102.53, after rising by 0.215 percent yesterday, Tuesday.
So far, the index has risen by one percent this month, after falling by two percent in December, as traders reassess the possibilities regarding the size and timing of the US interest rate cut.
The Fed's sudden dovish change in December, when it expected to cut interest rates by 75 basis points in 2024, increased market expectations of m
onetary easing, with traders last month anticipating cuts of up to 160 basis points.
Traders are focusing on the release of the US Consumer Price Index report tomorrow, Thursday, to help predict the possibility of lowering interest rates in March. The report is expected to show an increase in the inflation rate by 0.2 percent on a monthly basis and by 3.2 percent on an annual basis.
In terms of other currencies, the euro did not record a noticeable change at $1.093, while sterling fell 0.05 percent to $1.2699. The Japanese yen lost 0.17 percent, reaching $144.70.
The Australian dollar rose 0.22 percent to 0.6703 against the dollar, and the New Zealand dollar rose 0.09 percent to 0.6242 against the dollar.
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