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

189
SHARES
1.5k
VIEWS


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%

Knowledge from Cointelegraph Markets Pro and TradingView confirmed BTC/USD fall in keeping with TSLA shortly after the Wall St. open.

Related articles

The pair hit $66,650 earlier than bouncing to linger at round $67,000 on the time of writing, still 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 sell 10% of his holdings, price round $23 billion on the time.

Nov. 9 noticed a major acceleration of the destructive 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 simply accept crypto

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

Associated: Coinbase regains #1 position on Apple App Store as Crypto​.com jumps to third

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

As Cointelegraph reported, Musk stays rather more hands-on with regards to Bitcoin and chosen altcoins, with Tesla retaining its $1.5 billion BTC allocation from earlier this yr.

“If Apple have been so as to add assist for Bitcoin to the iPhone and convert their treasury to a Bitcoin normal, it might be price at the very least a trillion {dollars} to their shareholders,” MicroStrategy CEO Michael Saylor responded.