Bitcoin falls 5.6% to $34,448

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 5.6% to $34,448.94 at 18:10 GMT on Saturday, losing 1,878.27 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is up 1.8% from the year's low of $34,000 on Jan. 22.

Ether, the coin linked to the ethereum blockchain network, dropped 8.4% to $2,352.72 on Saturday, losing $189.64 from its previous close.

(Reporting by Rhea Binoy in Bengaluru; Editing by Cynthia Osterman)

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