Cryptos: Bitcoin price slumps, erasing weekend gains

United States

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

Bitcoin BTCUSD, +0.06% fell around 5%, to about $ 33,858, as of Monday afternoon after peaking as high as $ 35,887 on Sunday, according to Coindesk data. 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, +0.51% down more than 5% in the past 24 hours and dogecoin DOGEUSD, -0.17% down about 6%. While digital currencies trade 24 hours, the official trading day ends at 5 p.m. Eastern.