Bitcoin tumbles 9.95% to $48,397.56

FILE PHOTO Representation of cryptocurrency bitcoin is seen in this illustration taken November 29 2021. REUTERSDado RuvicIllustration

FILE PHOTO: Representation of cryptocurrency bitcoin is seen in this illustration taken November 29, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) - Bitcoin dropped 9.95% to $48,397.56 at 18:02 GMT on Saturday, losing $5,346.13 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is down 29.9% from the year's high of $69,000 on Nov. 10.

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