Up-and-down holiday weekend comes after bitcoin’s second-worst quarterly performance
Bitcoin’s price sank Monday, erasing a weekend rally.
Bitcoin BTCUSD, -0.01% 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, 3.32% down more than 5% in the past 24 hours and dogecoin DOGEUSD, -0.99% down about 6%. While digital currencies trade 24 hours, the official trading day ends at 5 p.m. Eastern.