The volatility of cryptocurrencies such as bitcoin has proven to win out over market analysis, as token prices began to slide with no clear catalyst.

Bitcoin has fallen more than 8% in the last 24 hours to hover around $36,700 as of 2pm BST on 28 May, while its largest rival ether fell by a similar percentage. Smaller coins such as XRP dropped by 12%, and even meme favourite dogecoin slipped by 7% to $0.31.