(Bloomberg) —
The Elon Musk-propelled rally in Bitcoin just evaporated.
The world’s largest cryptocurrency has erased all the gains it clocked up following Tesla Inc.’s Feb. 8 announcement that it would use corporate cash to buy the asset and accept it as a form of payment for its vehicles. Now traders are bracing for more pain as the token hovers around a key technical level.
Bitcoin dropped to about $40,300 as of 11:05 a.m. in London Wednesday, a level last seen before the EV-maker…
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