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Bitcoin, Ether fall; DOGE leads losses across top 10 crypto

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Bitcoin fell in evening trade in Asia along with almost all other top 10 cryptocurrencies by market capitalization, excluding stablecoins, with the sole gain reflected in Polkadot’s uptick.

See related article: Hong Kong seeks to allow crypto futures ETFs

Fast facts

  • Bitcoin lost 1.5% in the past 24 hours to trade at US$20,549 at 4 p.m. in Hong Kong, Ether fell 2.39% to US$1,591 but gained 18.85% on the previous seven days, according to data from CoinMarketCap
  • Dogecoin led losses among the top 10 cryptos with a 9.66% decline to US$0.12, though it rose 97.92% from the previous seven days after last week’s news that Elon Musk, a longtime supporter of the memecoin, would complete his purchase of Twitter caused the DOGE to surge to its highest since early May.
  • XRP fell 2.18% to US$0.46, Cardano dropped 4.39% to US$0.40 and Solana inched down 0.35% to US$33.34. Polkadot’s 0.07% rise to US$6.73 was the biggest gain of the day among the top 10 cryptos. 
  • Asia equity markets were mixed after Wall Street gained on Friday. The Hong Kong Hang Seng index slumped 1.18%, a week after it declined to its lowest since the 2008 financial crisis. The Nikkei 225 closed 1.79% higher in Tokyo while the Shanghai Composite Index dipped 0.79%
  • Japanese consumer confidence for October fell from 50.9 to 49.0, falling short of a 50.8 forecast. A reading of 90 or higher is regarded as a measure of a healthy economy. The European Union is due to release several economic measures on Monday, including an estimate of GDP growth from the second to the third quarter of 2022, forecast as a decline from 0.8% to 0.3%, and an estimate of inflation for the year to October, expected to rise from 9.9% to 10.4%.

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