Markets: Bitcoin stuck under US$20,000, Ether edges up, Cardano slides

Bitcoin edged up in Monday afternoon trading in Asia, but it still traded below the US$20,000 resistance line, a level it has now fluctuated around since late August. Ether rose, along with Solana and Polkadot. Cardano reversed morning gains to trade lower.

See related article: Markets: Bitcoin, Ether edge up; Cardano, Solana lead gains in crypto top 10

Fast facts

• Bitcoin was changing hands at US$19,745, up 0.15% in the past 24 hours as of 4 p.m. in Hong Kong. Ether gained 0.91% to trade at US$1,562, according to data from CoinMarketCap.
• Cardano lost 1.06% in the prior 24 hours to US$0.488, though it rose 12.62% over the past seven days — the only coin among the top 10 by market capitalization posting a double-digit seven-day increase. That came after online brokerage Robinhood on Thursday announced the listing of Cardano on its platform ahead of the blockchain’s Vasil hard fork.
• Polkadot traded up 2.89% in the past 24 hours to US$7.47, the biggest mover among CoinMarketCap’s top 10. Solana gained 1.32%.
• Asia equity markets were lower to little changed. The Hong Kong Hang Seng index fell 1.16% to 19,225.70, the lowest level since mid-March. The Shanghai Composite index closed up 0.42%, while the Nikkei 225 index edged down 0.11%.
• China is extending its Covid-19 lockdowns in most parts of the southwestern metropolis of Chengdu and will continue mass testing through Wednesday, pointing to more sluggishness in the economy. The authorities put the city under lockdown on Thursday. Meanwhile, Shenzhen said it would adopt tiered anti-virus restriction measures starting on Monday.
• Investors seem unimpressed by the Friday U.S. jobs report that showed hiring slowed in August in the U.S., with the unemployment rate rising to 3.7% in August from 3.5% in July. While this suggests a possible slowing of inflation, the consensus seems to be it will not change the U.S. Fed’s aggressive policy to raise interest rates.

See related article: Cardano’s Vasil hard fork upgrade confirmed for Sept. 22