US News

Cryptocurrencies bounce back after Sunday plunge

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Reuters

By Tom Wilson, Tom Westbrook and Stephen Culp NEW YORK (Reuters) -Cryptocurrencies rebounded on Monday, reclaiming ground lost during a bout of weekend selling that was fuelled by further signs of a Chinese crackdown on the emerging sector. Bitcoin was last up 8.8% to $37,766, erasing losses of 7.5% from a day earlier but still down by more than 40% from last month’s record high. Second-largest cryptocurrency ether jumped more than 17% to as high as $2,459 after slumping more than 8% on Sunday to near a two-month low. Yet it too has fallen by almost half from a peak hit earlier this month. In …

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