Bitcoin punctuates wild week with a fresh bout of volatility

Bitcoin’s extreme volatility carried into the weekend as the world’s largest cryptocurrency continued to whipsaw investors still reeling from a brutal stretch.

The digital token slumped as much as 11% on Sunday, and traded 9.6% lower at $34,432 as of 11 a.m. in London. A day earlier, Bitcoin had climbed back above $38,000 following a tweet from Elon Musk in which the Tesla Inc. CEO said he supported crypto in the battle against fiat currencies.

Investors in Bitcoin are experiencing one of its rockiest weeks ever after a string of negative headlines, with prices swinging as much as 30% during the day. Bitcoin fell as low as $30,016 on Wednesday, the least since January. Even with the gyrations, Bitcoin is still up 300% in the past year.