Bitcoin falls 8.3% to $38,932

A representation of the cryptocurrency is seen in front of Bitcoin logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - Bitcoin dropped 8.3% to $38,932.49 at 2308 GMT on Friday, losing $3,523.07 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is up 18.2% from the year's low of $32,950.72 on Jan. 24.