Bitcoin Price Prediction: Drops to $46,000 Amid SEC Security Scandal and ETF Unrest

The price of Bitcoin fell sharply to $46,000, a decline of roughly 1.50% on Wednesday, in a market characterised by increased sensitivity to government measures. The most prominent cryptocurrency in the world has recently experienced some volatility, which coincides with reports of a security breach at the SEC in the United States.

 

False information about a Bitcoin ETF spread because two-factor authentication wasn’t enabled. It heightened the already palpable sense of unpredictability and chaos in the digital asset market. The incident highlights the complex interplay between regulatory factors and the ever-changing bitcoin sector. The mood of investors and the direction of Bitcoin’s price were both affected.

 

---

Trade on BTCC with 10 FREE USDT.

Sign up today to redeem your bonus.

---

 

 

Lack of 2FA Led to SEC Account Hack, Confusion Over Bitcoin ETF

 

An important financial regulatory agency in the United States, the Securities and Exchange Commission (SEC), recently experienced a security breach involving their official social media account. A SIM swap attack, in which the hacker obtains control of a victim’s phone number, was the root cause of this incident, according to the X Safety team. The SEC’s account, however, lacked the basic security measure of two-factor authentication (2FA), which facilitated the intrusion.

 

 

 

In the middle of the continuous anticipation of real SEC rulings regarding Bitcoin ETFs, the price of Bitcoin is currently hovering around $46,000. This occurrence emphasises the significance of strong security measures in avoiding misinformation and how the price of Bitcoin reacts to regulatory news.

 

 

 

 

The perpetrators of this hack made fraudulent claims about the approval of a Bitcoin exchange-traded fund (ETF). When the SEC explained that the news was false, the price of Bitcoin dropped below $45,000 after a sharp spike to $47,897 caused by this false information.

 

 

 

Download App for Android

Download App for iOS

Latest News on Bitcoin Price

 

With its dominant position on CoinMarketCap, Bitcoin (BTC/USD) maintains its dominance in the dynamic digital currency market. On Thursday, January 10th, the live price of Bitcoin was $45,768.72, and the astounding volume of $38.86 billion was traded in just one hour.

 

Even though Bitcoin’s value has dropped by 1.35 percent recently, its market cap of about $896.80 billion is still very healthy. 19.59 million BTC, out of a maximum of 21 million, are circulating, which helps to support it.

 

 

 

Bitcoin Price Prediction

 

 

Looking at the technical picture for the day, we find that $45,721 is Bitcoin’s pivot point. At $46,306, there is immediate opposition; at $47,228 and $47,922 there are following hurdles. Important support levels that should be considered in order to avoid further drops are $45,230, $44,739, and $44,398.

 

From a technical indicators perspective, Bitcoin’s RSI is currently at 57. This puts it in a bullish sentiment zone, but it’s not quite in overbought territory (over 70), which could mean a price correction is on the horizon.

 

 

Bitcoin is now trading above the 50-Day Exponential Moving Average (EMA), which is at $44,708.0, indicating a possible short-term uptrend.

 

From what we can see in the charts, Bitcoin has just finished a Fibonacci retracement around $45,721, which is in line with the 38.2% Fibonacci level. At this crossroads, overbought conditions are already correcting, and a prolonged decline below this level would increase selling forces.

 

Ultimately, it appears that Bitcoin is heading in a cautiously optimistic direction, especially if it stays over $45,250. Bitcoin is expected to test its immediate resistance levels in the near future, according to dealers and investors.

 

 

---

 

 

Download App for Android

Download App for iOS

Where to Trade BTCUSDT Futures?