Bitcoin down by 7.9% to $61,842

Representation of Bitcoin cryptocurrency is seen in this illustration taken January 11, 2024. REUTERS

Bitcoin fell 7.9% to $61,842 at 21:00 GMT on Saturday, losing $5,308 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is down 16.2% from the year's high of $73,794 on March 14.

Ether, the coin linked to the ethereum blockchain network, fell 9.18% to $2,930 on Saturday, losing $296.1 from its previous close.