Bitcoin inched up and Ether slipped in Tuesday afternoon trading in Asia, with most other top 10 non-stablecoin cryptocurrencies trading lower on the day. China reported a higher-than-expected gross domestic product (GDP) growth of 3% in 2022.
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Fast facts
Bitcoin gained 0.04% to US$21,129 in the past 24 hours to 4 p.m. in Hong Kong, a 22.8% rise over the past calendar week, according to CoinMarketCap data . Ether lost 0.17% to US$1,563, in a weekly gain of 18.14%.
Bitcoin and Ether prices have risen along with the crypto market since the U.S. released December’s Consumer Price Index (CPI) of a 6.5% growth on an annual basis. It marked the smallest annual increase since October 2021, possibly pointing to subsiding inflation.
All cryptocurrencies on the top 10 list declined on Tuesday, except for Polkadot that rose by 0.6% to US$6.01 and gained 22.86% in the past week.
Solana lost 3.57% to US$23.41 but was the biggest gainer of the week with an increase of 46.73%, following the surge of interest in Bonk, a Solana-focused memecoin.
Asia equity markets were mixed on Tuesday. Hong Kong’s Hang Seng Index closed 0.78% lower, and the Shanghai Composite Index lost 0.1%. Japan’s Nikkei 225 went up by 1.23%.
China’s GDP grew by 3% in 2022, its National Bureau of Statistics announced on Tuesday. While it fared better than the 2.8% forecast in a poll from Reuters , it failed to hit target growth of 5.5%.
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