Bitcoin prices tumble 50% from peak and Mark Cuban calls the crypto crash the ‘great unwind’


Bitcoin prices were in free fall again on Sunday lunchtime, and the world’s leading crypto spiral fell more than 50% from a peak in mid-April amid yet another spell of turmoil in the digital assets space.

On the last review, bitcoin prices BTCUSD (-18.01%) changed hands at $ 32,258, down 16% on the day after hitting a 24-hour low of $ 31,179, the halved the Bitcoin mark from a mid-April high of $ 64,829.14.

Ether in the Ethereum blockchain ETHUSD, -26.27%,
Meanwhile, there has been an even bigger dip, down 18% to $ 1,922 during the session and nearly 60% from the all-time high earlier this month at $ 4,382.73.

The weekend carnage in crypto drew the attention of bulls and market participants, including billionaire Mark Cuban, who appeared to be blaming the slump in part on excessive leverage and speculation about alternatives to Bitcoin.

Popular meme asset, Dogecoin DOGEUSD, -27.38%,
changed hands at 29 cents, a 60% decrease from the all-time high of around 74.07 earlier this month.

The slide for crypto expands a decline that has made its way into the past few days. This is underscored by fears of an irrational exuberance in parts of the digital asset market and concerns about intensification of regulation in the emerging sector.

Read: Why is crypto crashing? Will Bitcoin Prices Ever Rise? This is what traders and investors say

China on Friday underscored its intention to crack down on digital assets, and the U.S. Treasury Department said it plans to enforce anti-money laundering rules and require reporting of $ 10,000 in crypto transactions to the government.

A popular measure of fear in the crypto market, the Fear and Greed Index, was 14, indicating extreme fear after reaching a level of greed at 55 last month.

The discomfort with digital assets can also affect stocks. Stock benchmarks, including the Dow Jones Industrial Average DJIA, + 0.36%,
the S&P 500 Index SPX (-0.08%) and the Nasdaq Composite Index COMP (-0.48%),
to see troubled trading in recent times.