On Tuesday, January 9, local time in the United States, the crypto market experienced short-term fluctuations. BTC briefly rose by more than $48,000 and then dropped to around $44,641. The fluctuation exceeded $3,000 in half an hour, and the contract market exploded with both long and short positions. The reason is that the SEC released news on the official Coin ETF.

In the end what happened? How did the market change?

Odaily has compiled a timeline for readers as follows:

• At 4:15 local Eastern Time in the United States, the U.S. SEC announced on its official , to ensure continued investor protection.”

• As soon as the news was sent out, Ouiyi OKX market showed that Bitcoin rose to more than 48,000 US dollars in a short period of time, and then fell back to the range of 45,000-46,000. ETH also briefly rose above $2,300 before falling back to the $2,200 range.

• Then, about 15 minutes later, SEC Chairman Gary Gensler’s personal verification account on the Listed and traded.”

• The news has been released and Bitcoin briefly dipped to $44,641 before moving back above $45,000. ETH bucked the trend and rose to $2,374 in the short term.

• The SEC’s official X account subsequently deleted the tweet about the ETF’s approval.

Opinions from all sides: Was this the work of hackers?

Bloomberg analyst Eric Balchunas said in an interview that he did not think this was the work of hackers, but more likely that SEC insiders set the wrong date when expected to release the ETF approval news tomorrow, which led to the farce released today. . He thinks so for several reasons:

1. The “fake” news first released by the SECThe tone is strict and the wording is legitimate, not like a prank created by the Crypto circle or hackers;

2. This tweet is inIt is most reasonable to send it out at the same time the next day, getting ready for the start of trading on Thursday;

3. If it is really a hacker intrusion, then the hacker will post a messageWith news that the ETF has not been approved or that the SEC will investigate Tesla, there should be greater room for profit from placing short orders in advance.

4. Some people on the X platform believe that there has never been a precedent for a hacked account to be recovered so quickly.

However, the SEC also used loose terms like #Bitcoin in its original tweet. A few hours later, the SEC announced that it would cooperate with law enforcement agencies to investigate the hacker attack. The agency also stated that unknown parties had accessed the SECs X account and that the unauthorized access had been terminated. In addition, the reason for theft. Odaily will keep you posted.