Bitcoin, the world’s most valuable cryptocurrency, took a significant hit on Saturday, plunging 7.9% to $61,842.
This steep decline represents a loss of more than $5,300 compared to its closing price on Friday.
The weekend drop extends Bitcoin’s year-to-date losses, as it now sits a substantial 16.2% below its March 14th high of $73,794.
Ether, the second-largest cryptocurrency by market capitalization and the coin that powers the Ethereum blockchain network, followed Bitcoin’s downward trajectory on Saturday.
It fell 9.18% to $2,930, shedding nearly $300 from its previous close.
