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The crypto market is recovering after a tough few days that have seen vast amounts of money wiped from its value.
Prices then dropped further when Mr Musk appeared to hint that Tesla had sold its large bitcoin holdings. He later outright denied it – but the price had already dropped, and failed to recover.
The value of bitcoin and other currencies recovered slightly on Tuesday morning, though far from enough to neutralise those heavy losses.
Bitcoin, for example, is up 1 per cent over the last 24 hours, but still down almost 20 per cent over the last week. Similar changes were seen across the market, which was up 1.92 per cent over the last day, according to CoinMarketCap.