Bitcoin falls 9.2% to $48,782

FILE PHOTO A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken October 19 2021. REUTERSEdgar Su

FILE PHOTO: A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken October 19, 2021. REUTERS/Edgar Su

(Reuters) - Bitcoin dropped 9.29% to $48,752.15 at 22:01 GMT on Saturday, losing $4,991.54 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is down 29.3% from the year's high of $69,000 on November 10.

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