Bitcoin Falls on Reported Chinese Bank Ban; Crypto Stocks Drop

Bitcoin fell to a two-week low and cryptocurrency-focused stocks also dropped Monday as China intensified its cryptocurrency crackdown, with one of the country's biggest banks banning customers from doing any business in digital currencies.

Bitcoin was down 9% at $32,430 early Monday, while Ether was down 10% to $2,024. Cryptocurrency-exposed stocks including the likes of Riot Blockchain  (RIOT) - Get Report, Marathon Digital  (MARA) - Get Report, Coinbase  (COIN)  and Ebang  (EBON) - Get Report were also lower in premarket trading.