Bitcoin drops as hashrate declines with China mining crackdown

Bitcoin is trading at about half its record high of nearly $65,000 reached in mid-April.

Bitcoin dropped over the weekend amid a focus on Chinese mine closures and potential regulatory scrutiny.

The largest cryptocurrency fell 5.5% to $34,142 as of 10:50 a.m. Sunday in New York, dropping for a fourth time in the past five sessions. Ether, the second-biggest, declined 5.9% to $2,095.