Bitcoin backs off after SEC denies ETF approval

Late yesterday evening just around the time of the US stock market close, Bitcoin spiked close to 48k. The high seen was set at 47,905 and it came following a falsely reported tweet; stating that the SEC had granted the approval of an ETF licence. The SEC later denied this and that sent the lead coin tumbling again. The low seen was set at 44,900. This is unfortunately the nature of fake news in this domain and in truth this sector is rife with such reports and conjecture. So, BTC is now very wary of any further erroneous reports. The price action has certainly been more cautious since yesterday evening and for good reason in my opinion too. So, BTC has not made any significant progress so far this morning, but it is holding above that 45k level for the time being, currently trading at 45,675