Bitcoin slumps to two-week low amid renewed worries of Chinese restrictions

The price of Bitcoin slipped to its lowest levels in weeks on Monday amid news of further clampdowns on cryptocurrency in China.

The price of Bitcoin slipped to its lowest levels in weeks on Monday amid news of further clampdowns on cryptocurrency in China. As of noon ET on Monday, Bitcoin was trading at approximately $32,291, a plunge of more than 6% over the past 24 hours and a steep fall from its all-time high of nearly $65,000 in mid-April, according to CoinDesk data. Bitcoin's fall dragged down fellow cryptocurrencies including Ethereum, which was down more than 9% over the past 24 hours. On Monday, China’s central bank put out a statement following regulatory talks with other financial institutions and payment platforms urging against providing services for virtual currencies, according to China’s state-run news agency Xinhua. In the statement, the People’s Bank of China linked cryptocurrency use to heightened risk of illegal activity and money laundering and accused virtual currencies of disrupting normal economic activity.