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Cryptos: Bitcoin price slumps, erasing weekend gains

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Bitcoin’s price sank Monday, erasing a weekend rally.

Bitcoin
BTCUSD,
+1.33%

fell around 5%, to $33,282, Monday afternoon after peaking as high as $35,887 on Sunday, according to Coindesk data. But prices shot higher overnight, topping $34,500 around midnight Eastern. The crypto traded as low as $32,768 on Friday, before a pair or surges Saturday and Sunday.

The $30,000 level is seen as a key divide, with potential trouble on the horizon if prices fall below it. Last quarter saw the second-worst performance from bitcoin dating back to 2010, as it tumbled 42%.

Other leading cryptocurrencies slid from weekend peaks as well Monday, with ethereum
ETHUSD,
+2.51%

down more than 5% in the past 24 hours and dogecoin
DOGEUSD,
+0.68%

down about 6%. While digital currencies trade 24 hours, the official trading day ends at 5 p.m. Eastern.

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