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Bitcoin slips below US$38,000 in a retreat from Monday's rally Vildana Hajric and Eric Lam, Bloomberg News Saxo APAC CEO: 'Huge Reaction' to Cryptocurrency Offering VIDEO SIGN OUT   Bitcoin traded lower on Tuesday as prices pulled back from a double-digit percentage rally, stoked by Elon Musk’s effort to bolster the token’s green credentials on Twitter. The largest digital currency slipped 4.6 per cent to trade at US$37,250 as of 7:43 a.m. in New York, following a 16 per cent jump on Monday. The wider Bloomberg Galaxy Crypto Index and tokens including Ether also dropped. Th...

Musk's gentler with the cryptoasset this week, but volatility is still very much there

  Bitcoin held gains Tuesday after Elon Musk’s effort to bolster the token’s green credentials stoked a rally, extending a bout of marked volatility in the wake of last week’s crypto rout. The largest digital currency was little changed at $38,800 as of 7.35am in London, following a 16 per cent overnight jump. The wider Bloomberg Galaxy Crypto Index and tokens including ether were steady. Mr Musk took to Twitter to signal support for an apparent effort by bitcoin miners to make their operations more environmentally friendly. The billionaire has roiled the token’s price th...

Tesla founder signals support for bitcoin miners’ efforts to makes operations environmentally friendly

Bitcoin traded lower on Tuesday as prices pulled back from a double-digit percentage rally, stoked in part by Elon Musk’s effort to bolster the token’s green credentials on Twitter. The largest digital currency slipped as much as 6.5% to $36,494 in New York, following a 16% jump on Monday. The wider Bloomberg Galaxy Crypto Index and tokens including Ether also dropped. The Tesla Inc. CEO has roiled the token’s price this month, triggering a selloff by criticizing its energy profile and suspending Bitcoin payments. Heightened regulatory rhetoric on cryptocurrencies from China also pres...