“Half as much” is unnecessary exaggeration. All assets with a high reading volume can be manipulated with a tweet. News of a Bitcoin ETF is no different than positive news for any other asset. I think your bias is making you ignorant to general market mechanics.

I am not a fan of crypto, but I don't think tweet affecting something like that is an indicator of anything.

Something big can happen and only a very little information can reveal it to have happened. That is the power of speed of information and the scale.

The price moved ~3% as a result of the tweet.

There have been many flash crashes in traditional markets bigger than that, triggered by similarly stupid events.

So im guessing you feel like tesla shouldn’t be taken seriously as well?

Imagine your bank balance is suddenly worth half as much because somebody dropped a bomb? How is fiat currency still taken seriously?

> Imagine your bank balance is suddenly worth half as much because someone wrote a tweet.

That's just as possible with regular stocks, which Twitter's owner has (unrelatedly) demonstrated multiple times in the past with both Tesla and Twitter... or, a bit slower, in the early covid months.

Stock markets are insanely sensitive to "insider" information and breaking news in general, which is why the regulations around them are so strict.

How is Twitter still taken seriously?