Bitcoin Prices Tumble 50% From Peak and Mark Cuban Calls the Crypto Crash the ‘Great Unwind’

Bitcoin prices on Sunday afternoon were in free fall anew, with the world’s No.1 crypto spiraling down more than 50% from a peak in around the middle of April, amid another bout of turbulence in the digital-asset sector.

At last check, bitcoin prices BTCUSD, +11.76% were changing hands at $32,632 down 12% on the day, after hitting a 24-hour low of $31,179, which halved bitcoin from a mid-April peak at $64,829.14.

Ether on the Ethereum blockchain ETHUSD, +22.67%, meanwhile, was seeing an even more severe slump, down at one point 18% at $1,922 on the session and down by nearly 60% from its all-time high hit earlier this month at $4,382.73. It was last down 13% at 2,033.

The weekend carnage in crypto was drawing the attention of bulls and market participants, including billionaire Mark Cuban, who appeared to partly pin the slump on excess leverage and speculation on alternatives to bitcoin.

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Source: MarketWatch