Bitcoin plummets as doubts grow over sky-high valuation

Bitcoin plummets as doubts grow over sky-high valuation


Summary short_text

A $1.5 billion investment by electric carmaker Tesla this month has helped vault bitcoin above $50,000 but may now lead to pressure on the company's stock price as it has become sensitive to movements in bitcoin.
LEVERAGED LOSSES. Rising government bond yields over recent days have hit riskier assets in traditional markets, with the caution spilling over into highly leveraged bitcoin markets, said Richard Galvin of crypto fund Digital Asset Capital Management.


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