After briefly reclaiming the $24,000 mark on Wednesday, Bitcoin (BTC) is back in the red today, as the price of the leading cryptocurrency slipped below $23,000.
The latest price action followed electric car manufacturer Tesla's announcement that it had sold 75% of its Bitcoin stash, worth about $936 million, and the European Central Bank's (ECB) announcement that interest rates would go up by as much as 0.5%.
The price of Bitcoin was quick to react as it slipped below the $23,000 level overnight, dropping to a daily low of $22,457 on Wednesday afternoon. Bitcoin is currently trading at around $22,600, down 6.4% on the day, according to data from CoinMarketCap.
The broader crypto market has tumbled as well: Ethereum (ETH) slid by more than 6% over the past 24 hours to its current price of $1,500, with several other major coins dropping by between 6% and 9%.
It’s not all bad news for the world’s largest cryptocurrency, though; Tesla boss Elon Musk noted that the company's divestment...
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