Tweet claiming false approval for Bitcoin ETF gives glimpse, price of Ethereum may go up before actual approval of Ethereum ETF.

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Hello:

The SEC’s Twitter account was recently hacked and sent out a fake tweet saying they approved a Bitcoin ETF. This caused chaos in the market for a little while. The tweet was proven to be false, but it showed how regulatory decisions can affect cryptocurrency prices. In particular, Ethereum’s trading volume and price went up a lot after the fake news.

Ethereum’s price went up a lot and there was false information spreading.

After a fake tweet about Bitcoin ETF approval, the price of Ethereum went up a lot. The amount of Ethereum being traded also went up 73% to almost $22 billion. Experts believe that traders might have expected the same approval for Ethereum, which caused more people to want it and the price to go up. Scott Melker, who knows a lot about crypto, said that the market will probably go up if they make a good decision about an Ethereum ETF.

SEC makes decision about Bitcoin ETF:

The SEC will soon say if they will allow a Bitcoin ETF. They have said no before, but this time they might say yes. However, it looks like more and more people are feeling hopeful that it will get approved this time. If the Bitcoin ETF is allowed, it could give regular people more chances to invest in Bitcoin and other big cryptocurrencies like Ethereum. This might increase the demand for Bitcoin and make its price go up.

Ethereum is making changes to its network and people are expecting the market to react.

The Ethereum network is getting ready for a big technical upgrade called the Dencun upgrade. People are also excited about the SEC’s decision. This update should make Ethereum work better and be more secure. This could make people feel more positive about the market and the price of Ethereum may go up.

In the end,

Investors are waiting for the SEC to decide on the Bitcoin ETF and the Ethereum network upgrade. The cryptocurrency market could grow a lot. Fake news can make prices go up or down for a little while, but rules and new technology like the Dencun upgrade will have a bigger and longer-lasting effect on Ethereum and other cryptocurrencies.

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