Bitcoin slides again as Musk U-turn continues to weigh

Bitcoin slipped as much as 6.5 percent to $36,494 in New York trading on Tuesday.

Bitcoin traded lower on Tuesday as prices pulled back from a double-digit percentage rally, stoked in part by Elon Musk’s effort to bolster the token’s green credentials on Twitter. The largest digital currency slipped as much as 6.5% to $36,494 in New York, following a 16% jump on Monday. The wider Bloomberg Galaxy Crypto Index and tokens including Ether also dropped. The Tesla Inc. CEO has roiled the token’s price this month, triggering a selloff by criticizing its energy profile and suspending Bitcoin payments. Heightened regulatory rhetoric on cryptocurrencies from China also pressured the sector.