Bitcoin plunged another 15% overnight on Sunday, extending a week of declines after regulators in the U.S. and China ratcheted up scrutiny on cryptocurrencies.
After soaring earlier this year on a wave of investor interest, the price of cryptocurrencies slumped in the past week. Bitcoin has shed more than 30% since May 16, including Sunday’s drop. It is also down about 50% from its all-time high of $64,788.34 set in April.
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