Bitcoin dipped 11.33% to $33,250 at 16:00 GMT on Sunday, losing $4,248.98 from its previous close.
Bitcoin , the world’s biggest and best-known cryptocurrency, is down 48% from the year’s high of $64,895.22 on April 14.
Ether , the coin linked to the ethereum blockchain network, dropped 16.59 % to $1,915.34 on Sunday, losing $380.97 from its previous close.
Bitcoin markets operate 24/7, setting the stage for price swings at unpredictable hours.
“Many point to Bitcoin’s volatility as untenable,” wrote RBC Capital Markets’ Amy Wu Silverman in a research note published on Saturday. “Indeed, Bitcoin makes severe and dizzying swings.”
Bitcoin had been under pressure after a series of tweets last week by billionaire Tesla (TSLA.O) Chief Executive and cryptocurrency backer Elon Musk, chiefly his reversal on Tesla accepting bitcoin as payment.
In addition, on Friday China cracked down on mining and trading of the largest cryptocurrency as part…