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SEC Gary Gensler's Market Manipulation Performance on the Eve of Spot Bitcoin ETF Approval?

Validated Project

In an unexpected twist, the U.S. Securities and Exchange Commission (SEC) and its Chair, Gary Gensler, seemingly played a significant role in manipulating the Bitcoin market just before the expected approval of the Spot Bitcoin ETF.

(via TradingView)
  • Time of Event: 01/08 15:40 UTC
  • Gensler’s Post: He warned investors considering crypto assets to keep in mind several risks.
  • Community Interpretation: The market interpreted it as a sign of impending ETF approval, leading to FOMO.
  • Market Reaction: Bitcoin's price jumped from around 45,000 to 47,000.

Further reading：SEC Chair Hints at Imminent Approval of Spot Bitcoin ETFs? Gary Gensler’s Warning on Crypto Volatility

  • Time of Event: 01/09 21:26 UTC
  • Unofficial Post: The SEC’s Twitter account was compromised, and an unauthorized tweet about the approval of a spot Bitcoin ETF was posted.
  • Community Reaction: The false approval news initially drove a surge in Bitcoin's price, followed by a sharp fall after Gensler's denial.
  • Market Reaction: BTC rose from 46,666 to 47,897, only to plummet to 44,903 after Gensler's clarification.

https://twitter.com/garygensler/status/1744833049064288387

Further reading：Critical Week for Spot Bitcoin ETF Approval: 5 Key Details to Watch

Bloomberg ETF analyst Eric Balchunas suggests the tweet might have been a planned post with the wrong date.

https://twitter.com/EricBalchunas/status/1744835562643595652

He even polled the community to speculate whether the tweet was from inside or outside the SEC, tagging Elon Musk for insights.

The incident led to community mocking SEC and Chair Gary Gensler: “How are you supposed to protect investors when you can’t even protect your Twitter account?”

Click here to register with DigiFinex and enjoy cryptocurrency trading.

Keywords: SEC, Gary Gensler, Spot Bitcoin ETF, Market Manipulation, Crypto Investment, FOMO Warning, Twitter Account Hack, Investor Protection

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