During Monday afternoon in Hong Kong, Bitcoin, the largest cryptocurrency in terms of market capitalization, fell below US$28,000 after surpassing that threshold earlier in the day.

Among the top 10 non-stablecoin cryptocurrencies, all except Tron (TRX) experienced gains in the 24-hour period leading up to 4 p.m. in Hong Kong, with Ethereum leading the way with a 2.8% increase.

While Asian markets displayed mixed results, European stock exchanges and U.S. stock futures showed gains, Yahoo News reported.

The risk appetite of investors received a boost from a tentative agreement reached on Sunday between U.S. President Joe Biden and House Speaker Kevin McCarthy to raise the debt ceiling of the world’s largest economy.

Bitcoin’s price fluctuations around the US$28,000 mark contributed to its overall 2.51% rise over the past 24 hours, resulting in a weekly gain of 3.95%, according to data from CoinMarketCap.

Additionally, Ether, the second-largest cryptocurrency globally, was trading at US$1,900.

Written by staff