It's a battleground: What's the latest on Bitcoin?

The fact that one of the most critical developments in crypto history came to the fore with a hack has shaken the industry, especially Bitcoin (BTC).

The Spot BTC ETF issue, which is eagerly awaited by all financial markets, not just crypto investors, caught fire overnight. However, this flame took place in an undesirable and uncontrolled way. First, the United States Securities and Exchange Commission (SEC) made a post from the official X account that ETFs have been approved. Later, SEC Chairman Gary Gensler stated that the SE account was compromised, directly causing concern to the market and investors.

In this chain of chaos, the BTC, which first threw up and then collapsed, intensified the tense wait.

We have witnessed price manipulation with the effect of news!

The leader of cryptocurrencies, which exploded with the sharing of approval from the SEC's X account, first tested $ 47,974. However, the issue of hacking came to the fore, naturally bringing intense selling pressure, pulling the price up to $ 44,761. The BTC, which showed a total movement of close to 7 percent, frustrated tens of thousands of investors in both the derivatives and spot markets.

If the dark clouds over the BTC, which is trading at $45,938 at the time of writing, dissipate, it could head towards $46,535 – $47,242 – $47,974 and $48,606, respectively. In this process, developments regarding the ETF, SEC and Gensler will play a critical role. If the fud environment continues, a new sale may start at any time. In such a scenario, there may be drops to $45,445 – $44,761 – $44,338 and $43,386, respectively.