Ethereum price swoons after record peak, bitcoin momentum fizzles as crypto market faces late-Monday slump

“This price action indicates that we have most likely hit a short-term top at $64K,”  wrote Pankaj Balani, CEO of Delta Exchange, about bitcoin.

The chief of the digital-asset derivatives exchange wrote that bitcoin may challenge $40,000 in the coming weeks, if it breaches $50,000.

At last check, Ether ETHUSD, +1.86% was changing hands at $3,882.88 on CoinDesk, down 0.4%, but well off its record 24-hour high at $4,213.46.

Bitcoin prices were down 4.3% at about $55,375, while one of the most talked about assets, dogecoin DOGEUSD, +1.93%, was down over 19% at 45 cents. From its peak on Saturday at nearly 75 cents, doge was down 40%.

The slide for crypto broadly come as the Dow Jones Industrial Average DJIA, -0.10%, the S&P 500 SPX, -1.04% and the Nasdaq Composite Index all finished lower on the day.