Bitcoin sank almost 15% on Saturday but then vaulted back above US$20,000 with a 16% surge on Sunday. The pattern of swings suggest investor sentiment remains highly fragile as the Federal Reserve goes full-throttle to fight inflation with interest-rate hikes that drain liquidity from markets.
Bitcoin struggled to hold above the closely-watched US$20,000 level, extending a period of marked volatility that saw huge weekend swings.
The largest cryptocurrency fell as much as 4.8% to US$19,618 on Monday in Asia and was trading at US$20,014 as of 11.09 a.m. in Tokyo. Ether at one point shed 6.6% but held above US$1,000. Solana, Cardano and Dogecoin were in the red.
