Bitcoin dips below $67K as Tesla stock slump combines with Apple CEO denying crypto plans


Bitcoin (BTC) fell $1,400 in half an hour throughout Nov. 9 after a snap sell-off hit Tesla (TSLA) inventory.

BTC/USD 1-hour candle chart (Bitstamp). Supply: TradingView

Tesla falls 12%, Bitcoin 2%

Information from Cointelegraph Markets Professional and TradingView confirmed BTC/USD fall consistent with TSLA shortly after the Wall St. open.

The pair hit $66,650 earlier than bouncing to linger at round $67,000 on the time of writing, nonetheless up $1,000 on the day.

After hitting all-time highs of $1,245 on Nov. 5, Tesla noticed turbulence after it emerged that CEO Elon Musk would promote 10% of his holdings, value round $23 billion on the time.

Nov. 9 noticed a big acceleration of the damaging temper as TSLA misplaced as much as 12% in minutes earlier than recovering. In contrast, BTC fell by round 2%.

$TSLA 1-hour candle chart. Supply: TradingView

Prepare dinner: No plans for Apple to just accept crypto

The transfer appeared to overshadow information that Apple CEO Tim Guide owns cryptocurrency. In an interview, Prepare dinner nonetheless tempered any optimism over doable company crypto acceptance or purchases, saying that there have been no plans as but to take action.

Associated: Coinbase regains #1 place on Apple App Retailer as Crypto​.com jumps to 3rd

“I do. I feel it’s cheap to personal it as a part of a diversified portfolio,” he mentioned on the DealBook convention, based on CNBC.

As Cointelegraph reported, Musk stays rather more hands-on in the case of Bitcoin and chosen altcoins, with Tesla retaining its $1.5 billion BTC allocation from earlier this 12 months.

“If Apple have been so as to add help for Bitcoin to the iPhone and convert their treasury to a Bitcoin customary, it could be value at the least a trillion {dollars} to their shareholders,” MicroStrategy CEO Michael Saylor responded.