Bitcoin falls 4.5% to $26,916

FILE PHOTO: A representation of bitcoin is seen in an illustration picture taken on June 23, 2017. REUTERS/Benoit Tessier

(Reuters) - Bitcoin dropped 4.5% to $26,916 at 20:07 GMT on Wednesday, losing $1,276 from its previous close.

Bitcoin, the world's biggest and best-known cryptocurrency, is down 7% from the year's high of $28,936 on March 22.

Ether, the coin linked to the ethereum blockchain network, dropped 4.67 % to $1,722.6 on Wednesday, losing $84.3 from its previous close.

(Reporting by Yana Gaur in Bengaluru; Editing by Shounak Dasgupta)