Bitcoin drops below US$28,000, Tron's deflation slows losses

Bitcoin, the world’s largest cryptocurrency by market capitalization, dropped below US$28,000 on Monday afternoon in Hong Kong after breaching the mark earlier in the day. All top 10 non-stablecoin cryptocurrencies, excluding Tron (TRX), rose in the 24 hours leading to 4 p.m. in Hong Kong, with Ethereum leading gains at 2.8%. Bitcoin’s see-saw of around US28,000 was part of its 2.51% rise over the past 24 hours, bringing its weekly gain to 3.95%, according to CoinMarketCap data. TRX, the native cryptocurrency of the Tron blockchain founded by blockchain entrepreneur Justin Sun, fell 0.27% to US$0.07721.

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