Bitcoin falls 13% to $33178, ether down 14%

Bitcoin’s extreme volatility carried into the weekend as the world’s largest cryptocurrency continued to whipsaw investors with double-digit percentage moves.

The digital token slumped as much as 13% Sunday, and traded 12.3% lower at $33,178 as of 10:19 am in New York, holding below its 200-day moving average. A day earlier, Bitcoin had climbed more than 8% to move back above $38,000 following a tweet from Elon Musk.

Ether, the coin linked to the ethereum blockchain network, dropped 14% to $1,973.96 on Sunday, losing $322.35 from its previous close.

A measure of implied volatility on Bitcoin comparable to the US equity market’s VIX indicator sits above 130, higher than the stock version has ever gotten in 30 years.