07:14 AM EDT, 04/15/2024 (MT Newswires) -- Bitcoin partially recovered on Monday from steep losses on Saturday when it plunged by nearly 8% following news of Iran's drone and missile attack on Israel.

Bitcoin fell to as low as $61,683 on Coinbase (COIN) before regaining losses to above $66,500 early Monday morning, according to CoinMarketCap.

Bloomberg described Saturday's drop as the steepest sell-off in a year.

Number two digital currency Ether fell more than 9% on Saturday to $2,930, before clambering up to the $3,200 to $3,300 range on Monday.

Bitcoin is down more than 9% from an all-time high of $73,794 it reached about a month ago, according to CoinMarketCap.

Separately, Hong Kong regulators gave conditional approvals for three local asset management firms to assemble bitcoin and Ether exchange-traded funds, Bloomberg reported.