Bitcoin slumped on Friday to its lowest this week, taking losses sparked by a growing crackdown in China and environmental concerns to almost 40% so far this month. The biggest cryptocurrency extended earlier losses, falling as much as 8.2% to $35,339 as it stayed pinned in this week's relatively tight trading range. "Bitcoin is currently in a bit of 'slumber mode' trading in the range of $34,000 and $40,000," said Ulrik Lykke, executive director at crypto hedge fund ARK36. The cryptocurrency has lost 37% in May, which if sustained would be its worst monthly performance since September 2011. Smaller coins, which typically rise and fall in tandem with bitcoin, also slumped.

Source: Mint May 28, 2021 09:56 UTC