Bitcoin experienced a significant drop of 7.9 percent, reaching $61,842 at 21:00 GMT on Saturday, marking a loss of $5,308 from its last closing price.
According to Reuters, Bitcoin, the largest and most well-known cryptocurrency globally, has decreased by 16.2 percent from its yearly high of $73,794 recorded on March 14.
Ether, the cryptocurrency associated with the ethereum blockchain network, also saw a decline of 9.18 percent, falling to $2,930 on Saturday, reflecting a loss of $296.1 compared to its previous close.
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