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Bitcoin drops 6.9% to below $30,000

FILE PHOTO: Representation of cryptocurrency Bitcoin is seen in this illustration

(Reuters) -Bitcoin, the world's biggest and best-known cryptocurrency, dropped 6.9% to $29,555.35 at 22:03 GMT on Wednesday, losing $2,262.81 from its previous closing price.

It was down 38.9% from the year's high of $48,234 on March 28.

Ether, the coin linked to the ethereum blockchain network, dropped 7.52% to $1,794.68, losing $145.87 from its previous close.

(Reporting by Shubhendu Deshmukh and Rachna Manojkumar Dhanrajani in Bengaluru)

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