Markets: Bitcoin, Ether, DOGE fall amid slowing activity in China, SHIB edges up

Bitcoin and Ethereum fell in late evening trade in Hong Kong as appetite for risk assets tapered in the wake of data showing that China’s economic activity slowed across the board in July. Dogecoin (DOGE) reversed gains from the morning, while Shiba Inu token (SHIB) edged up.

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Fast facts

• Bitcoin was down 2.8% over the past 24 hours at US$24,041 as of 5:40 p.m. in Hong Kong with Ethereum changing hands at US$1,894, according to data from CoinMarketCap.
• Solana lost the most among the top 10 coins by market capitalization as tracked by CoinMarketCap. It was down 7.4% over the past 24 hours at US$43.95.
• DOGE reversed gains made in the morning and was down more than 4% over 24 hours at US$0.07577. But it still posted a seven-day increase of 7.1%. SHIB gained 3.7% in 24 hours.
• Meanwhile, equity markets in China ended lower as industrial output in the country grew slower-than-expected at 3.8% in July from a year ago. The Shanghai Composite ended 0.02% down with Hong Kong’s Hang Seng index losing 0.7%.

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