Bitcoin slides below $40,000 on China crypto restrictions, ether tumbles

TOKYO (Reuters) - Bitcoin's volatile week-long slide saw it tumble to below the $40,000 mark on Wednesday as news of further restrictions on cryptocurrency transactions in China added to earlier concerns sparked by Tesla boss Elon Musk's tweets. Bitcoin, the world's biggest and best-known cryptocurrency, fell about 9% to as low as $38,940.04, even slipping below a key 200-day moving average.

It is now down 40% from the year's high of $64,895.22 on April 14. Ether, the coin linked to the ethereum blockchain network,.

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